Month: September 2022

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’ – Bitcoin News

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On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin (BTC) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “fake news.” During that same period of time,…

Crypto winter teaches tough lessons about custody and taking control

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The crypto winter has pumped new life into the adage “Not your keys, not your coins,” particularly after the collapse of some high-profile enterprises like the Celsius Network, whose funds were frozen in June. Just last week, Ledger CEO Pascal Gauthier hammered home the point further, warning: “Don’t trust your coins and your private keys to anyone because you don’t know what they’re going to do with it.” The basic idea behind the adage, familiar to many crypto veterans, is that if you don’t personally hold your private keys (i.e.,…

Big questions about how laws and taxes apply to NFTs and the metaverse

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NFTs can now serve as court documents… but they might also be unregistered securities, illegal loot boxes, or come with impossible tax demands.  Nonfungible tokens (NFTs) are thought of by most people as just funny pictures that degens on the internet spend far too much money on for poorly understood reasons. But Jason Corbett, managing partner of global blockchain law firm Silk Legal, says new and innovative use cases are beginning to emerge. “We’ve seen recently the courts allowing the serving of court documents by way of an NFT,” Corbett…

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ETH Surges, Following Latest Jobs Report – Market Updates Bitcoin News

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Ethereum was back above $1,600 on Friday, as markets reacted to the latest nonfarm payrolls (NFP) report. Figures released today showed that 315,000 jobs were added to the U.S. economy, better than the 300,000 expected. Bitcoin was marginally higher, as the token continued to trade above $20,000. Bitcoin Bitcoin (BTC) was trading above $20,000 on Friday, as markets reacted to the latest monthly jobs report. Last month’s payrolls came in at 315,000, which is higher than the consensus estimate of 300,000. Following the report, BTC/USD surged to an intraday high…

Vitalik Buterin Expected Crypto Crash Earlier, ETH Battles With $1,600

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The inventor of Ethereum, Vitalik Buterin, gave an interview talking about the current state of the crypto market, its dynamics, and the impact of the crypto winter on developers. The second crypto by market cap has displayed a week with low volatility as it prepares to complete its migration to a Proof-of-Stake consensus with “The Merge”. At the time of writing, Ethereum (ETH) trades at $1,610 and records a 3% profit in the last 24 hours and a 5% loss over the past week. Large cryptocurrencies have been moving sideways…

Runaway Thodex Crypto Exchange CEO Arrested in Albania, Turkey Says

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The Turkish Ministry of Internal Affairs announced on Tuesday that 28-year-old Faruk Fatih Ozer, Founder and CEO of folded Turkish cryptocurrency exchange Thodex, has been arrested in Albania. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. The ministry said Fatih was rounded up in Vlorë, a city in Southern Albania, after he was found through his biometric identification. The government ministry further noted that the process to extradite Fatih to Turkey has…

Armenia aims to position itself as a Bitcoin mining hub

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At the end of August, a digital platform called ECOS Free Economic Zone delivered good news from a country that rarely sparks on the global crypto map — Armenia. ECOS reported adding 60 megawatts (MW) of capacity to its power plant-based facility, operating since 2018.  Situated at one of the hydroelectric plants on the Hrazdan river, the mining facility gets its electricity supply directly from the high-voltage grid and uses the site’s infrastructure to power containers. The platform’s representatives noted that ECOS could expand to an additional 200MW of clean…