Since the beginning of the month, bitcoin (BTC) flows into crypto exchanges have been on the rise. This is primarily due to creditor distributions by the rehabilitation trustee of the defunct BTC trading platform Mt. Gox. Data from blockchain analytic platform IntoTheBlock has revealed that July 25 saw the exchange BTC net flows hit a yearly high of $2.8 billion. Crypto trading platforms saw similar BTC inflows in mid-March, about two months after the United States spot...
Read More »Bitcoin Cash Jumps 7% amid Mt. Gox Repayments, Eyes $400
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Read More »Are Mt. Gox Creditors HODLing The Newly-Received BTC?
Beginning in early July, the defunct crypto exchange – Mt. Gox – initiated repayments to creditors affected by the 2014 hack. While Kraken has completed the distribution of all the Bitcoin and Bitcoin Cash owed to Mt. Gox creditors, the former’s price remained stable. This could be due to the fact that creditors on Kraken have refrained from offloading their tokens. Mt Gox’s repayments had sparked significant concerns among crypto investors, who feared that many of the...
Read More »Bitcoin Breaks $68,000 Mark amid Record Inflows and ETF Momentum
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Read More »Kraken to Begin Distributing Mt. Gox Compensation Funds Soon: $3.1B Worth Bitcoin Transfer Noted
Kraken has announced the receipt of funds from the Mt. Gox Rehabilitation Trustees on July 16th. This marks a significant step towards compensating those impacted by the historic collapse of the Mt. Gox exchange a decade ago. In an email to the affected parties, the exchange said it plans to begin distributing Bitcoin (BTC) and Bitcoin Cash (BCH) to affected users within the next seven to 14 days. Distribution Plan for Mt. Gox Funds According to Kraken’s email, the amount...
Read More »Bitcoin Mining Difficulty Plummets 7.8% in Largest Drop since FTX Collapse
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Read More »QCP Capital Predicts ‘Subdued’ Bitcoin Performance As Mt. Gox Payouts Loom
After a decade of waiting, July might finally bring restitution to the users of the now-defunct Mt. Gox exchange. However, it appears that market players are on edge regarding the distributions and fear further sell-offs. It is important to understand that Bitcoin has already been on a decline since the beginning of June and has failed to build a meaningful upward momentum despite modest ETF inflows. On July 3rd, the price fell under $60,000 briefly followed by a slight...
Read More »Bitcoin Cash (BCH) Price Nosedives after Mt. Gox Repayment News but There Is Catch
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Read More »Crypto Stocks Tumble in Premarket as Bitcoin Continues to Slide
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Read More »Bitcoin and Ether Options Expiry Looms, What’s Next for Crypto?
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