Mark Karpeles, the former CEO of now-defunct bitcoin exchange Mt. Gox, had his first day in court yesterday. The trial is in Tokyo where Mt. Gox had its headquarters. Mr. Karpeles filed a plea of ‘not guilty’ to charges of fraud, embezzlement, and data manipulation.
Up until early 2014, Mt. Gox handled 80% of the world’s bitcoin trades. However, in February 2014, the company filed for bankruptcy and closed business. The company admitted that it had lost $28 million in cash from its bank accounts and 850,000 bitcoins. The bitcoins were valued at $500 million at the time, and comprised about 7% of all bitcoins. A month after closing (March 2014), the company said that it had found 200,000 bitcoins. Apparently, the bitcoins were sitting idle in an offline digital wallet the company had not used for some time. An audit performed following the bankruptcy announcement located these bitcoins, otherwise they would have remained missing.
Hackers, Software Security Flaws, and Charges
The company said that hackers stole the money by exploiting a security flaw in the bitcoin software. However, the authorities disagree, arresting Mr. Karpeles in August 2015 and he posted bail in 2016. The prosecution says the evidence shows Mr. Karpeles used Mt. Gox’s computer system to increase his personal account at the company with $1 million. Also, he allegedly transferred $3 million from a company account holding customer money to one of his personal accounts in late September 2013.
When Mt. Gox filed for bankruptcy, creditors announced a loss of $2.4 trillion and demanded compensation. The trustee managing the bankruptcy could only locate $91 million in assets, though the company claimed assets in excess of $500 million. Creditors have received only $5.5 million to date after the deduction of legal and accounting costs.
If found guilty, Mr. Karpeles faces up to five years in jail or a fine up to $4,000. Considering the effects of the lost cash and bitcoins, the potential punishment seems light. Prison is horrible, but the maximum fine is small, and an “either prison or fine” punishment is not justice. The fine is a pittance compared to the many people who lost much more. Many of the affected people are beyond believing that they will ever recover any money, now they just want answers.
Japan, the First Country to Enact Cryptocurrency Regulations
This event did push the Japanese government to enact laws regulating cryptocurrency exchanges. In fact, Japan was the first country to implement laws at the national level. One of the most important parts of the legislation requires that traders and exchanges retain a separation between company and customers’ cryptocurrency accounts.
This is an interesting trial, and the reaction by governments at the conclusion will surely reflect their demeanors towards cryptocurrency regulation and sanctions.
Redwire Space produces human knee cartilage in space for the first time
Redwire Space has “bioprinted” a human knee meniscus on the International Space Station, which could treat Earthlings with meniscus issues.
The meniscus cartilage was manufactured on Redwire’s ISS BioFabrication Facility (BFF). The BFF printed the meniscus using living human cells and transmitted it to Redwire’s Advanced Space Experiment Processor for a 14-day enculturation process for BFF-Meniscus-2.
SpaceX’s Crew-6 mission returned the tissue to Earth after culturing. UAE astronaut Sultan Al-Neyadi and NASA astronauts Frank Rubio, Warren Hoburg, and Stephen Bowen investigated.
Redwire collaborated with the Uniformed Services University of the Health Sciences Center for Biotechnology, which studies warfighter remedies, for the trial. Meniscus injuries are the most prevalent orthopedic injuries in U.S. service members.
In recent months, Redwire Space has advanced biotechnology. The subsidiary of Redwire Corporation launched a 30,000-square-foot biotech and microgravity research park in Indiana this summer.
Redwire EVP John Vellinger called the printing “groundbreaking milestone.”
He stated, “Demonstrating the ability to print complex tissue such as this meniscus is a major leap forward toward the development of a repeatable microgravity manufacturing process for reliable bioprinting at scale.”
The company has long-term bioprinting and space microgravity research goals. Redwire will fly microgravity pharmaceutical drug development and cardiac tissue bioprinting payloads on a November SpaceX Commercial Resupply trip to the ISS.
Sierra Space agreed to integrate Redwire’s biotech and in-space manufacturing technology into its Large Integrated Flexible Environment (LIFE) space station module. Orbital Reef, a private space station designed by Blue Origin, Boeing, and others, will include LIFE.
Best Practices for Using Composite IBC Totes
According to the International Organization for Standardization (IOS), totes are classified into two categories. Let us take a closer look:
First, there are intermediate bulk container (IBC) totes that are described as rigid. These are often made from metal, wood, or fiberboard. They are designed as a single unit and do not call for additional support when they are filled up.
Then there is the composite kind. These are made up of a cage that supports and protects the inner lining when weight is added. As a result, the lining and the cage work in tandem as one unit.
In this read, we are going to dive into the gist of things and explore practices that you should implement when it comes to using your 330 reconditioned IBC totes. Keep in mind that these are general requirements and you should seek specific advice from your supplier as your needs may be different.
-If you intend to store products meant for human use, ensure the totes are food grade. This helps ascertain harmful interactions or reactions do not happen during transportation or storage.
-When handling items with extremely low flashpoints, store them in totes that are explosion-proof. Some materials, however, will need permeation barriers to prevent them from diffusing through the lining.
-In regards to hazmat transit, the container’s material as well as filling material compatibility should undergo thorough testing. These tests, however, can differ between European and American regions. They are put into place to determine the best material to use for your situation and so, is imperative to allocate enough time for comprehensive testing.
The Best Practices for Filling & Handling/Shipping IBC Totes
In order to fill a tote, the following three things should be done:
-Close the outlet valve
-During filling, the process should be performed at atmospheric pressure, and shouldn’t go beyond 70ºC/158ºF. Therefore, the tote should not be pressurized.
-During the cooling stage, the receptacle should be vented. This is to prevent vacuum deformation from occurring. Once this is done, ensure the cap is screwed in tightly.
- Handling or Shipping
-The totes should be well-secured to make sure no damage occurs during transit
-Never use tie ropes on the totes with the intention of moving them this way.
-If you are using a pallet jack or a forklift to handle the IBC totes, the forks should reach the pallets’ entire length.
- Storage or Stacking
-Prior to stacking, it is imperative to identify the plate for stack testing. This helps determine whether the IBC totes are stackable.
-Always put nesting into consideration. It means arranging the totes in a way that they fit closely together. An effective way to do this is by using a two on two configuration.
-During transportation, the stack should not go beyond two layers
-When emptying a tote, only do it through the lower outlet valve.
-Open the top before emptying to avoid a vacuum collapse
-If you are emptying through a pipe or a pump, make sure that it is supported and does not rely on the cage. If you use the cage to support the pump or pipe, the vibrations are likely to cause damage to the cage.
These are some of the general practices when handling composite IBC totes. It is also important to note that these practices are just the tip of the iceberg. As such, we recommend forming a relationship with a supplier that has been in the field for years to ensure that you always make informed decisions.
The Matter standard is now supported by Google’s smart home appliances
Only if goods truly support it can the Matter standard facilitate the use of smart home appliances from different brands. You don’t even need to download or install any updates because Google has just announced that it has enabled Matter compatibility for its Nest and Android devices. This means that Matter can now be controlled by the Google Home speaker, Google Home Mini, Nest Mini, Nest Audio, Nest Hub (1st and 2nd gen), Nest Hub Max, and the new Nest WiFi Pro.
Additionally, Google has made Matter compatibility available for Fast Pair on Android, which will let you to connect Matter-enabled devices to your home network “as rapidly as you can pair a set of headphones.” This functionality will make it simple to integrate your devices with apps and smart home ecosystems once they are linked. The tech behemoth has also upgraded the Nest Wi Pro, Nest Hub Max, and Nest Hub (2nd gen) to include Thread border router functionality. In this manner, you can utilize them to link items that support Thread, the networking standard for low-power gadgets like smart locks.
Since 2019, the Connectivity Standards Alliance, of which Google is a member, has been working on the Matter standard to address the fragmentation issue in the smart home market and make it simpler to use products from various manufacturers. It had to postpone Matter’s release a few times before it was eventually able to roll out the standard’s version 1.0 definition and product certification program this October. It had originally planned to introduce the standard in 2021. Soon after Matter was released, Samsung said that it is collaborating with Google to make it simple to add devices that are already configured with SmartThings to Google Home and vice versa. One of the other founders of the Alliance, Amazon, also provided a list of the 17 Echo devices that will support the standard as of this month.
The number of products that are Matter-enabled is now somewhat small, but according to Google, this holiday season and early 2023 will witness an increase. With the exception of the aforementioned Google items, all devices that implement the standard will be identified by the Matter badge and will function with all other Matter devices right out of the box.
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