VENTURE CAPITAL POST

Seized $2 billion Silk Road Bitcoin was moved by the US government. Will they be sold again?

Egyptian-Chinese industrial zone in Ain Sokhna may attract $5 billion investments. About 100 companies are expected to set up their operations in the zone paving the way for creation of employment opportunities for about 30,000 people.

China's top two trainmakers have been in discussions with Bombardier Inc (BBDb.TO) about possibly buying a controlling stake in the Canadian company's railway unit, two sources with direct knowledge of the matter said.

China plans to cut red tape and reduce costs for Chinese firms looking to spread their reach overseas to help boost growth and stave off a wider economic slowdown, according to a statement from the ruling State Council.

The U.S. Marshals Service on Thursday received more than two dozen bids for 50,000 bitcoins seized from the alleged owner of Silk Road, an Internet black-market bazaar on which authorities say drugs and other illegal goods could be bought.

U.S. authorities said Thursday they have shut down the successor website to Silk Road, an underground online drug marketplace, and charged its alleged operator with conspiracy to commit drug trafficking, computer hacking, money laundering and other crimes.

A man who helped to promote bitcoin wants to remain in the business despite pleading guilty Thursday to indirectly helping send more than $1 million in the digital currency to users of the illicit online marketplace Silk Road, his lawyer said.

Several bitcoin exchanges including the now-defunct Mt. Gox received subpoenas from Manhattan federal prosecutors this winter as they look into possible ties between the exchanges and the online drug market Silk Road, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The Australian government is considering if it should surrender Peter Phillip Nash to the US authorities after he was indicted as one of the "small support staff" of alleged Silk Road founder Ross Ulbricht, Reuters reported.

Alleged Silk Road operator Ross William Ulbricht will have a November 3 trial date after pleading not guilty in a Manhattan federal court, Bloomberg reported.

The value of digital currency Bitcoin plunged 21% to $619 from $783 after Tokyo, Japan-based exchange paused its trading because of an increase in withdrawal requests.

Charlie Shrem and Robert Faiella, both executives of New York-based Bitcoin exchange business BitInstant, were arrested for money laundering in connection to the illegal drug transactions on an online black market, according to the Manhattan US attorney.

Israeli computer scientists Dorit Ron and Adi Shamir retreated their claims in a report they published citing a financial link between the Bitcoin payment system and the operator of Internet black market Silk Road.

A report from Israeli scientists explored the connection between the arrested operator of Silk Road Ross William Ulbricht and the secretive inventor of the digital currency bitcoin Satoshi Nakamoto.

An analyst said that the involvement of Bitcoin in the Silk Road online marketplace scandal provided enough boost for the digital currency to receive support from the market, and even US government agencies, as an accepted investment and payment technology solution.