Firm Behind Japanese Cryptocurrency ‘Spindle’ to Relocate to London Amid Investigation

The Japanese cryptocurrency Spindle, known for being promoted by the Japanese popular singer, actor and talent Gakuto Oshiro (45), aka GACKT, has announced it’s withdrawing from Tokyo to relocate its headquarters in London, amidst rumors that the Tokyo Metropolitan Police is investigating unregistered sales of cryptocurrencies made by the company.

Also read: J-Pop Star GACKT Caught Between Crypto Company Spindle and Minister’s Gaffe

Japan Unsuitable for Crypto Business

GACKT told in an interview online that there is a considerable disparity in Japan compared to overseas in regard to crypto, explaining, “Black Star&Co. decided to move to London, where it originally started, because [in Japan] it takes a tremendous amount of time for various procedures to take place. [They decided] it would not be suitable for a cryptocurrency business, which essentially needs to be speedy, to remain in such an environment.”

Japanese Cryptocurrency Spindle to Relocate in London Amid Investigation

Black Star&Co, the developer company behind Spindle, said it will withdraw from Tokyo to take up an office in London from August 15th, where it shall be known as Black Star Capital Ltd (UK). The company was earlier involved in a scandal that shook the Japanese Minister of Internal Affairs and Communications, Seiko Noda, accused by Japanese media of exercising pressure on a government investigation into a crypto exchange company.

In January 2018, Noda’s secretary and aide allegedly invited an agent of the Financial Service Agency (FSA) and a representative of the cryptocurrency exchange operator to her parliamentary office to ask general questions. As a cabinet minister, Noda was accused of exerting pressure on an official government investigation.

On July 19th, it was reported that the company tied to Spindle and GACKT was suspected by the FSA of violating the fund settlement law and that it had been slapped with a warning in mid-January 2018. The company, which began dealing its own cryptocurrency, Spindle, aka GACKT Coins in October 2017, received administrative guidance from the FSA in February 2018 to discontinue selling cryptocurrencies.

Japanese Cryptocurrency Spindle to Relocate in London Amid Investigation

However, the spindle (SPD) altcoin, which was listed on five foreign crypto exchanges in May, was pre-sold with one coin priced at 30 yen ($0.27 US), but the value later lowered to less than 0.4 yen ($0.0036 US). Investors who believed in GACKT, the promoter of Spindle, and purchased the coins made a significant loss. Moreover, GACKT and his allies sold immediately after the coin was listed, and made a lot money from doing so, reported. It was also reported that the Tokyo Metropolitan Police Cyber Crime Unit has been extremely attentive to such opaque transactions.

Spindle Investors Will Be Upset

In a press release, the company announced that it is moving its head office from Tokyo to London because it has more partners familiar with the technology and design in Europe and in the U.S. “We wish to keep in close contact with them,” the company said in the press release. “Given Japan’s current stance on [crypto] regulation and financial investments, it is difficult to expand further our business [here],” the company said in a statement. An individual involved in IT business told the Japanese press that Spindle had hired GACKT as a ‘publicity man’ in order to target Japanese people in general, including his fans. “If [GACKT] plans to move away from Japan now, many people will be really upset. Many will take this as he’s running away just before the authorities approach them,” the man told The company also stated its intention to change its personnel related to project advisory.

“Japanese people are extremely dependent on statutory currencies issued by the country and the nation’s administration also has a low understanding of cryptocurrency itself,” GACKT told, “it is actually safer for investors to put Spindle in an infrastructure management where it can expand, grow and thrive,” he concluded.

What do you think of Spindle moving out of Japan as the police is reportedly investigating its earlier sales of spindle coins? Share your thoughts in the comments section below.

Images courtesy of Shutterstock and

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Bearish bias on Bitcoin

Bearish bias on Bitcoin

Bitcoin / Dollar BITFINEX:BTCUSD

As the market has pushed down and broken the most previous support level I’m predicting trend continuation from this pair.

So how I plan to enter this trade is hopefully the market will retrace a little bit higher towards the broken support level that will now become resistance. Ill place a sell pending order at the 0.236 fib level with stops at the 0.5 fib level. My 1st target will go at the fib extension level 1.272 and my 2nd targets at the 1.618 level.

Now if the market pushes higher and closes above 6548.4 level then I will re-evaluate the trade.

Also depending on how high the market retraces ill also change stops and target.

Happy Hunting

Turkish airline, telecoms firm to halt US advertising

Turkey’s national airline and its main telecoms firm will halt advertising in US media in response to the crisis in relations between the two allies, company officials said today.

Flag carrier Turkish Airlines and Turk Telekom made their announcements after a campaign on Twitter calling for an end to advertising in US media outlets.

The moves came as President Tayyip Erdogan, whose government is locked in dispute with Washington over the fate of a US evangelical pastor on trial in Turkey, today announced a boycott of US electronic goods.

READ: Turkey is a ‘target of economic war’, Erdogan says

An official at one of the companies said the advertising boycott would encompass all written, visual and social media, although existing advertising campaign agreements would not be affected.

“We as Turkish Airlines are taking our place alongside our state and people,” senior vice president for media relations Yahya Ustun wrote on Twitter with the hashtag #ABDyeReklamVerme, meaning “don’t give advertisements to the USA”.

Hamdi Ates, corporate communications director at Turk Telekom, shared a similar message on Twitter.

The current focus of tensions between the two countries is the trial in a Turkish court of US pastor Andrew Brunson, who is accused of taking part in a failed coup in 2016. He denies the charges.

READ: Turkey to send delegation to Washington amid crisis over US pastor

The lira has plunged against the dollar as the row intensified, losing more than 40 per cent of its value this year. Speaking after US President Donald Trump doubled tariffs on Turkish steel and aluminium imports, Erdogan has said an economic war was being waged against Turkey.

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Pakistan PM Imran Khan backs Turkey’s Erdogan

Newly elected Prime Minister of Pakistan, Imran Khan, gave his backing to President Recep Tayyip Erdogan while Turkey is locking horns with the US in the worst diplomatic row between the two countries in recent years.

He may have been elected just recently, but Khan – who has been a strong critic of US foreign policy throughout his political career – sent a message of support to the Turkish people and their president in a tweet today.

“On behalf of the people of Pakistan & myself, I want to let President Erdogan & the people of Turkey know we are praying for their success in dealing with the severe economic challenges confronting them, as they have always succeeded against adversities in their glorious history,” Khan wrote.

Khan’s words of support for the Turkish president may not come as a surprise. He has been a fierce critic of the US, accusing Washington of treating “Pakistan as a doormat”.  He has been scathing of US drone policy, which many regards as exacerbating the problem of terrorism. He once promised to “shoot down US drones” if he was elected prime minister.

Prior to his election victory Khan ripped US President Donald Trump for attempting to “humiliate and insult” his country and insisted that Pakistan would never again be used by the United States as a “gun for hire, referring to the decades in which Pakistan worked closely with America after 9/11 even to the detriment of itself as some believe.

READ: Pakistan opposes US ‘unilateral sanctions’ on Turkey

Last January Khan wrote: “We became a US proxy for a war against the Soviet Union when it entered Afghanistan and we allowed the CIA to create, train, and arm Jihadi groups on our soil and a decade later we tried to eliminate them as terrorists on US orders. The time has come to stand firm and give a strong response to the US.”

Asked in a recent interview if he would meet with Trump if elected, Khan said he would, but added that it would be a “bitter pill” to swallow.

It’s not inconceivable that Khan’s electoral victory has been secured in part with his populist anti-US message and his supporters will be expecting him to back his words with action.

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Who killed 8,000 prisoners in Syria’s slaughterhouses?

While Russia, the Godfather of the Syrian revolution, was talking about forcibly returning Syrian refugees to the sectarian slaughterhouses, just as they were forcibly displaced against their will, the Syrian regime revealing that 8,000 detainees have died in its prisons, international human rights organisations revealed.

The message is intended to reach all Syrians warning them that their fate is going to be the same. Air Force intelligence Director General Jamil Al-Hassan, the real war criminal, revealed clearly the true nature of how he thinks, bragging since the start of the revolution that he is ready to kill one million Syrians. He’ll then head to the International Criminal Court to take sole responsibility for killing them.

Syrian refugees and Assad - Cartoon [Sarwar Ahmed/MiddleEastMonitor]

Syrian refugees and Assad – Cartoon [Sarwar Ahmed/MiddleEastMonitor]

Today, he is multiplying that figure 20 times. He has said that ten million obedient Syrians are much better than 30 million who are “terrorists”.

It was neither the Assad regime nor the occupiers alone who killed these people, and they were not the ones who killed the people in the pictures leaked in Caesar’s file, which included 55,000 pictures of 11,000 prisoners whose eyes were missing, their noses were drawn, their ears were cut off and their organs sold.

The real killers of those people are those who watched in silence since day one; who were silent to the crimes of Jamil Al-Hassan, and the crimes of the late Hafez Al-Assad in the eighties. It is the world that kept dealing with this regime as if it were a legitimate regime, and dealing with the Syrian people as if they were slaves.

READ: Amnesty calls for details of 75,000 forcibly disappeared persons in Syria

The criminal world continued to support him in all forums, and still stands in the face of the people’s will for demanding freedom through free elections just like the rest of the free civilised world.

About a million martyrs have perished, and now our prisoners, who number about a quarter of a million, are leaving us, while their parents have no way of knowing anything about them. According to the law they are “kidnapped”. They have not been arrested as per judicial orders, since the sectarian group in power for the past half a century does not follow such orders.

They left. Their families did not receive their bodies. They do not know where their graves are. We were not allowed to bid them farewell, or pray for them. The regime fears them after their deaths as it did while they were alive. It doesn’t want them to a legacy for the next generations.

It is a tradition started by the late Hafez Al-Assad, who never sent bodies of martyrs to their families. Thirty-thousand martyrs who were detained in Tadmur prison have been lost over three decades and no one knows where their graves are. But the inspiration is not going to come from the tombstones, rather from the people’s resilience which will be told from generation to generation, from grandparents to grandchildren, and which will feed the anger of generations to come against their murderers and torturers.

They left but their voices are still with us, deafening our ears and telling us not to reconcile and not to negotiate with the killers; not to give them legitimacy. Any negotiations or reconciliation will be an apology from the victim to the murderer. It will give legitimacy to murder, whether now or later. It is criminalisation of martyrs and vindication of their killers. This regime continued to murder; murder was the oxygen they breathed over the past half a century. The regime would die if it stopped killing and torturing.

READ: Shocking details revealed about ‘Bashar’s slaughterhouse’

“Do not reconcile,” is the slogan of the stage and all the stages to come until this sectarian gang leaves. There are some who call for return to the sectarian slaughterhouse, while we see how these sectarian gangs and the occupiers breach all agreements they reached with groups taking part in the revolution whether in Ghouta, Homs, Daraa or elsewhere. Killings, raids and arrests, even with those who reconciled with the sectarian gang, did not stop.

Those who’ve been killing us over the past years were not only Bashar, his gang and the occupiers. The one who killed us is the so called free world, which has participated, colluded or remained silent and is still pushing us towards slavery to Al-Assad.

But this is all impossible to achieve. Those calling for it do not really know history.

This article first appeared in Arabic in The New Khaleej on 12 August 2018

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