Michael Coscia, the first person convicted of spoofing after it was made a crime under the Dodd-Frank Act, was sentenced to less than half the prison time sought by federal prosecutors.

Coscia, 54, who had argued for probation, was sentenced Wednesday to three years in prison by U.S. District Judge Harry Leinenweber in Chicago. The only explanation for Coscia engaging in fraud while he was making $150,000 a month trading futures and had a net worth of $15 million was greed, the judge said.

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Smith & Wesson stock opened near an all-time high on Friday after five police officers were killed and seven were injured in a shooting in Dallas. The gunmaker’s stock opened at $29.75 a share.

Earlier this year, the stock hit a record high on 18 March, trading at $30.44 a share. That day it closed at an all-time high of $29.37.

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Bitcoin has struggled to live up to the hype that surrounded its emergence into the mainstream three years ago. Despite more than a billion dollars of venture capital funding, Bitcoin startups have failed to develop applications that appeal to mainstream customers. And over the past year, the Bitcoin community has become paralyzed by a bitter feud over how — and whether — to expand the network’s capacity.

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Automation is taking over all aspects of society. In many cases, this is a good thing. As we explain in Splitting Pennies – Understanding Forex – trading Forex manually (Without robots or automation) is basically impossible. But also we’ve learned that when anything is done by the government, it ends up being mismanaged, overpriced, delayed, or worse. In the most extreme example, inmates on death row that are killed by the government, are later found to be innocent with DNA or other hard evidence. Studies show recently that 4% of inmates killed are innocent, but many believe it to be much higher, as much as 50%. Whatever is the number, one person being killed who is innocent is one too many.

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It appears Russia is close to taking the next big step towards de-dollarization and killing the petro-dollar as Vladimir Putin’s “dream” of ruble-based pricing of its domestically-produced oil is on the verge of realization. SPIMEX (The St. Petersburg International Mercantile Exchange) is actively courting international oil traders to join its emerging futures market, which as Bloomberg reports, is designed “to create a system where Russian oil is priced and traded in a fair and straightforward way.”

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