After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n
According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n
A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
ETH\/USD is now testing the crucial support at $3,024 which appears as a deciding level for the upcoming weekly movement. The bearish momentum will slow down if this level is bounced off. If it declines, though, ETH might look for support at the $2,700 price mark.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Enters Downtrend As The Price Sinks Below $60K, ETH Tests Critical Support At $3,024 Following A Bearish Triangle Breakout","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-enters-downtrend-as-the-price-sinks-below-60k-eth-tests-critical-support-at-3024-following-a-bearish-triangle-breakout","to_ping":"","pinged":"","post_modified":"2024-07-08 19:40:12","post_modified_gmt":"2024-07-08 09:40:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17731","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17713,"post_author":"1","post_date":"2024-07-07 02:21:28","post_date_gmt":"2024-07-06 16:21:28","post_content":"\n Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to the RSI value of 30.61, Ethereum enters a solid bearish trend condition. However, the price is already in the oversold zone so there is a possibility of a potential pullback near the immediate resistance at $3,296.<\/p>\n\n\n\n ETH\/USD is now testing the crucial support at $3,024 which appears as a deciding level for the upcoming weekly movement. The bearish momentum will slow down if this level is bounced off. If it declines, though, ETH might look for support at the $2,700 price mark.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Enters Downtrend As The Price Sinks Below $60K, ETH Tests Critical Support At $3,024 Following A Bearish Triangle Breakout","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-enters-downtrend-as-the-price-sinks-below-60k-eth-tests-critical-support-at-3024-following-a-bearish-triangle-breakout","to_ping":"","pinged":"","post_modified":"2024-07-08 19:40:12","post_modified_gmt":"2024-07-08 09:40:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17731","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17713,"post_author":"1","post_date":"2024-07-07 02:21:28","post_date_gmt":"2024-07-06 16:21:28","post_content":"\n Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
With ETH being below the crucial $3,296 support level, the market is suddenly more pessimistic. With this action, ETH has completely counterbalanced the inefficiencies in the market caused by its price surge in response to the SEC's reversal of spot ETH ETFs.<\/p>\n\n\n\n According to the RSI value of 30.61, Ethereum enters a solid bearish trend condition. However, the price is already in the oversold zone so there is a possibility of a potential pullback near the immediate resistance at $3,296.<\/p>\n\n\n\n ETH\/USD is now testing the crucial support at $3,024 which appears as a deciding level for the upcoming weekly movement. The bearish momentum will slow down if this level is bounced off. If it declines, though, ETH might look for support at the $2,700 price mark.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Enters Downtrend As The Price Sinks Below $60K, ETH Tests Critical Support At $3,024 Following A Bearish Triangle Breakout","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-enters-downtrend-as-the-price-sinks-below-60k-eth-tests-critical-support-at-3024-following-a-bearish-triangle-breakout","to_ping":"","pinged":"","post_modified":"2024-07-08 19:40:12","post_modified_gmt":"2024-07-08 09:40:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17731","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17713,"post_author":"1","post_date":"2024-07-07 02:21:28","post_date_gmt":"2024-07-06 16:21:28","post_content":"\n Mt. Gox has finally begun repaying its creditors in Bitcoin and Bitcoin Cash ten years after its dramatic collapse. The trustee of the exchange announced on Friday that they had started making repayments to some creditors, with promises to address other claims upon meeting certain conditions.<\/p>\n\n\n\n These conditions include account verification and subscription to designated digital asset exchanges facilitating the disbursements. In the statement, the company also asked other eligible creditors to wait for a while.<\/p>\n\n\n\n \"On July 5, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges, etc. in accordance with the Rehabilitation Plan,\" <\/em>the statement<\/a> noted.<\/p>\n\n\n\n See Related: <\/em><\/strong>Mt.Gox Trustee Announces Payments To Users In July<\/a><\/p>\n\n\n\n Mt. Gox was once the world\u2019s largest cryptocurrency exchange before filing for bankruptcy in February 2014. The collapse followed a series of hacks that saw approximately 950,000 bitcoins, worth around $58 billion at current prices, vanish, CNBC reported<\/a>. Mt. Gox attributed the losses to a bug in Bitcoin's framework, which allowed hackers to illicitly move coins from user accounts while showing incomplete transaction messages.<\/p>\n\n\n\n After declaring bankruptcy, 140,000 of the missing bitcoins were recovered, translating to roughly $9 billion at today\u2019s prices. At the time of the bankruptcy, Bitcoin traded at approximately $600, compared to over $54,000 today, an almost 9,000% increase.<\/p>\n\n\n\n According to Arkham Intelligence, Mt. Gox moved billions of dollars in Bitcoin from its crypto wallets ahead of the repayment announcement. Over 47,000 bitcoins, worth $2.7 billion, were transferred from an offline wallet associated with Mt. Gox.<\/p>\n\n\n\n A portion, worth $84.9 million, was sent to Japanese exchange Bitbank, which supports the repayments, while $63.6 million went to an unknown counterparty likely involved in the repayment process. Mt. Gox wallets reportedly hold 138,985 bitcoins, valued at around $7.5 billion.<\/p>\n","post_title":"Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-starts-paying-back-creditors-in-bitcoin-after-10-year-wait","to_ping":"","pinged":"","post_modified":"2024-07-07 02:21:33","post_modified_gmt":"2024-07-06 16:21:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17713","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
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The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
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The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
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The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n
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The Fall And Rise of Mt. Gox<\/h2>\n\n\n\n