Month: January 2024

Expert Calms Mt. Gox Bitcoin Liquidation Worries, Says “Creditors Aren’t Likely To Sell Soon”

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The ongoing saga of the Mt. Gox exchange casts a shadow over the Bitcoin community, even years after its dramatic collapse. Recent developments have stirred the pot again, with Mt. Gox reaching out to former users to confirm ownership of accounts linked to Bitcoin payments. This move comes amid ongoing efforts to compensate creditors, primarily in Japanese yen, through their PayPal accounts. With the repayment process expected to continue this year, the crypto community remains on edge regarding the implications of releasing Mt. Gox’s substantial Bitcoin holdings, amounting to 142,000…

Hut 8 Corp. challenges short-seller report, claims financial solidity

Hut 8 Corp. counters an activist short-selling firm’s report, asserting the allegations as misleading and affirming its financial stability and operational integrity. Hut 8 Corp., a leading North American digital asset mining company, rebuffed allegations made by a short-selling firm JCapital Research, labeling them “false and misleading.” The paper criticized Hut 8’s business practices and management, but the company counters these claims as inaccurate and speculative. Hut 8, also a provider of high-performance computing infrastructure, dismissed the report as an attempt to tarnish its reputation and undermine its share price…

FTX Unloads $1 Billion GBTC Shares; Will The Bitcoin Rally Be “Vicious”?

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Fred Krueger, an investor and crypto analyst, is predicting a “vicious” Bitcoin (BTC) rally shortly. He cites the recent unprecedented accumulation of the coin by Wall Street heavyweights. This surge in institutional interest coincides with the recent approval of the first spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC). Wall Street Ramping Up Bitcoin Purchase In a post on X, Krueger pointed to the substantial Bitcoin purchases by major financial institutions, including Fidelity Investments, BlackRock, and Ark Invest. To illustrate, the analyst noted that Fidelity was buying…

Q&A With Ripple’s David Schwartz on XRPL Roadmap

ETHEREUM’S DIVERSITY PROBLEM. In the blockchain tech context, “client diversity” refers to the goal of having multiple software programs – known as “clients” – available for node operators and validators to access networks; as the thinking goes, if one of these clients goes down, due to a bug or some other mishap, there are plenty of other clients that would remain largely unaffected, preserving the blockchain’s uptime. Ethereum’s problem, based on a debate that erupted on the social-media platform X over the past few days, is that it’s heavily reliant…

Mt Gox Starts Verifying Addresses For 200,000 BTC In Payouts

Defunct Japanese-based cryptocurrency exchange, Mt. Gox has taken the next steps toward its Bitcoin distribution process to customers who were previously affected by its 2014 hack attack. The crypto exchange has delivered mass emails to account holders as they confirm wallet addresses for individuals eligible for its repayment process.  Mt. Gox Prepares For Bitcoin Repayments Recently, Account holders at Mt. Gox reported in a Reddit post that they have been receiving new emails from the crypto exchange regarding an identity verification and confirmation procedure initiated by the exchange.  Mt. Gox…

Alameda gap is still haunting Bitcoin despite ETF approval 

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Despite spot Bitcoin ETFs generating over $20 billion in trading volume, the crypto market faces ongoing challenges with liquidity.  The market’s liquidity, as measured by Bitcoin’s market depth, indicates that the ease and speed of executing transactions in the digital currency remain suboptimal. The current Bitcoin (BTC) depth chart indicates that there is a considerable amount of orders placed both for buying (bids) and selling (asks) Bitcoin, yet the liquidity—referring to the ability to execute large orders without impacting the price significantly—is limited around the current price level. So, the…

Why Tornado Cash Remains the Most Pivotal Legal Case in Crypto

Indeed, it is not. We should have the right to transact freely online, whether it’s to communicate with words or to exchange value in the form of crypto. The operation against Tornado supposes that all money sent through a mixer is necessarily dodgy, when, in all likelihood, only a portion of the $1 billion was laundered and sent to North Korea. Vitalik Buterin, for instance, used Tornado to send funds in support of Ukraine (presumably because he didn’t want to make that donation public). In effect, as my colleague Dan…