A San Francisco judge has set bail in cryptocurrency for an alleged hacker. Magistrate Judge Jacqueline Corley last week set bail at $750,000 in cryptocurrency -- such as bitcoin or ethereum -- for a Serbian man accused of hacking video game company Electronic Arts, according to the US Attorney's Office. Cryptocurrency is often associated with ransomware and criminal activities on the web, but it's gained some mainstream standing as more retailers begin accepting digital currencies. This likely isn't the first time a US judge has allowed cryptocurrency for bail, Assistant District Attorney Abraham Simmons told the Palo Alto Daily Post. Judges can order "just about anything" for bail, Simmons said, adding that the point is to get a defendant to show up in court.
California has cleared the first hurdle to become three states. Elizabeth Keatinge (@elizkeatinge) has more. SAN FRANCISCO – Even in Silicon Valley, where wildly improbable ideas are the coin of the realm, few people put much stock in Tim Draper's radical plan to break up California. But the iconoclastic 60-year-old venture capitalist is savoring victory this week after his initiative to split California into three states collected enough signatures to qualify for the November ballot. Draper, who made a name for himself funding Hotmail, Skype and Tesla and as an outspoken champion of cryptocurrency, ticks off the ways California is failing its citizens one by one: deteriorating quality of life, crumbling roads and bridges, an underperforming education system, ballooning pension obligations for government workers, political cronyism and unfriendly policies that are driving businesses out of state.
Bitcoin isn't issued by the government nor can it be deposited in a bank. So should it be subject to the same federal banking rules as traditional paper and coin currency? It is a question that federal authorities have been grappling with ever since digital currency took off a decade ago, one that will now be heard in a San Diego courtroom with the indictment of Morgan Rockcoons. The 30-year-old was the target of an undercover sting that depicted him as being a prolific bitcoin trader who exchanged bitcoin for a butane hash oil manufacturer without complying with anti-money laundering banking rules. He is charged with operating an unlicensed money transmitting business and money laundering.
After several days stuck below $7,000, bitcoin rallied Thursday. Here's what you need to know. These are the steps you need to take as you are planning for your retirement. According to a new survey from Bank of America Merrill Lynch, millennials are likely to save their tax cut money. University of Chicago professor Dennis Carlton took aim at a model that University of California Berkeley economist Carl Shapiro created for the government.
Roughly 24 hours after a major report from the New York state attorney general's office led officials to declare that the cryptocurrency exchange Kraken is "possibly operating unlawfully in New York," the exchange apparently decided the best response was to thumb its nose at state officials. In a series of tweets from both the official Kraken Twitter account and the company's co-founder and CEO, Jesse Powell, the San Francisco-based exchange made it clear that it's not taking this report seriously -- at all. SEE ALSO: It only took 37 seconds for two bitcoin'celebs' to start fighting on a cruise ship "NY is that abusive, controlling ex you broke up with 3 years ago but they keep stalking you, throwing shade on your new relationships, unable to accept that you have happily moved on and are better off without them," tweeted Powell. NY is that abusive, controlling ex you broke up with 3 years ago but they keep stalking you, throwing shade on your new relationships, unable to accept that you have happily moved on and are better off without them. And in case you thought that the CEO was just venting about New York the state (as he bizarrely later implied), the exchange chimed in as well.