Tag Archives: News

The much-awaited Mt. Gox repayment process has begun, with the defunct exchange’s bankruptcy estate moving 47,282 bitcoins, with 140,000 pledged to satisfy creditors. That transaction signals the start of this process, and Mt. Gox’s creditors can witness the assets reaching their wallets in the following days at best. Some may receive it 60-90 days from now, although that timeline is believed to be the worst-case scenario. This repayment process was confirmed last month by Mt. Gox through a...

BTC’s price plunged to prices unrecorded since May, falling below $57,000 on July 4 to go as low as $55,300. That movement caused over $193 million in leveraged BTC contracts to get liquidated in the past 24 hours, CoinGlass data revealed. Out of that, $154 million in longs, or contracts betting on BTC’s upward price movements, and $39.06 million in shorts, contracts betting on the asset’s downtrends, were liquidated. The liquidations occurred due to BTC prices dropping close to the $55,000...

Justin Sun, a household name in the crypto ecosystem, has verbalized his idea to buy bitcoin reserves from a German government-labeled crypto wallet off-market. By doing so, he intends to nullify the selling pressure engendered by the wallet every time it moves its holdings to centralized exchanges (CEXs). He posted his intent to negotiate with the German government on X, “I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on...

The Federal Criminal Police Office (BKA) transferred 3,000 bitcoins worth $172 million on Thursday. On-chain analysis reveals that 1,300 bitcoins were sent to centralized exchanges (CEXs) Kraken, Bitstamp, and Coinbase, and the remaining to an unknown Bitcoin wallet. That translates to about $75 million moved to CEXs and $ 97 million to the unknown address. PeckShieldAlert notified its followers about the BKA’s CEX-related transfers on X, “#PeckShieldAlertThe #Bitcoin address bc1qq0…738z...

Bitcoin’s price hit new lows, dipping to below $57,000 on Thursday—a price point not witnessed since May when the asset was climbing to achieve highs it had not recorded before. This plunge was aroused by defunct crypto exchange Mt. Gox conducting trial transactions from its wallet and the German Federal Criminal Police Office (BKA) transacting $175 million. Mt. Gox will pay its creditors this month. They lost their bitcoin holdings because of the hack that plundered it, resulting in it...

It has been months since the Nigerian government detained Tigran Gambaryan, Binance’s head of compliance, in Kuje Prison. His wife, Yuki Gambaryan, has complained of continuing health deterioration, stating he is now suffering from “numbness in his foot as well as back pain.” Yuki Gambaryan also mentioned the “double pneumonia and malaria” he contracted in prison. Despite the grave health issues mounting on top of each other, Gambaryan was only taken to a medical facility once. Reports from...

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