Fortress Investment Group has reportedly agreed to payout creditor claims of defunct Bitcoin Exchange Mt.Gox after years of court proceedings. The said bailout would be less than what these creditors can claim under a trustee-backed proposal set for a vote in October. However, due to continued delays and backouts by trustees, creditors are left with
The crypto world saw many ups and downs throughout the past week as Bitcoin price volatility saw a couple of major dips as well as recovery post the infamous Monday market crash of nearly $10k. The top cryptocurrency is currently trying to consolidate its position above $37,000. Other major headlines of the day include, Kraken
The Tokyo District Court grants the Rehabilitation Trustee in the Mt. Gox case another extension for the submission of the reimbursement proposal. The Trustee, Nobuaki Kobayashi, filed for an extension motion on 30th June, 1 day before the submission date. The court has set 15th October as the new deadline. The motion cited that, “…there
New Zealand police retrieve $90 million from Alexander Vinnik, the owner of BTC-e cryptocurrency exchange who has been accused of money laundering and extortion in France. NZ Police And IRS Join Hands Cryptocurrencies have garnered immense popularity over time. While these assets have been gaining traction from across the globe, crime pertaining to these assets
The lawyers of Craig Wright, the self-proclaimed creator of Bitcoin have reportedly sent a letter to Blockstream claiming that Wright was the man behind the addresses that sheltered the stolen Bitcoins from the Mt.Gox hack. Will The Real Hacker Please Stand Up? Australian entrepreneur, Craig Wright has been a popular name in the crypto sphere.
The end of the Craig Wright and Satoshi drama is near. Wright and his law firm have finally moved for loss of Bitcoins after claiming for years that he is the creator of Bitcoin and has a million BTC with his. They have sent a letter to Bitcoin infrastructure company, Blockstream, claiming the ownership of
The sudden crash in Bitcoin [BTC] on Saturday shook out many over-leveraged perpetual swap positions with over $250 million in long liquidation on BitMEX alone. Since the crash occurred 2 days prior to the Bitcoin halving, most suspect front running of the halving sell-off. Nevertheless, the magnitude of the drop was significant in a very
The Mt. Gox fund trustee, Nobuaki Kobayashi, has been granted an extension by a Tokyo Count to submit a fresh proposal as the creditors are unhappy with the earlier one. The deadline has now been pushed until July 1, 2020. According to Cryptoground, the total amount of Bitcoin [BTC] and Bitcoin [BCH] Cash is 137,891
Bitcoin and crypto-markets are teetering from a massive sell, this close to halving. The markets were looking fairly bullish early in February. However, things seems to have to taken an ugly turn too fast. In the midst of bullish fundamentals, one of the reasons that this can be attributed to is the selling pressure from
Vinny Lingham, a leading trade analyst recently suggested a very ominous theory about the ‘Bitfinex Premium’ being charges for over a week now. It refers to the surcharge on Bitcoin being explicitly charged on the Exchange. The ‘Bitfinex Premium‘ at 12: 40 Hours UTC on 4th May 2019 is around $320 w.r.t Coinbase and Bitmex.
Key highlights Ex-Mt Gox Head Will Serve No More In Jail Hong Kong’s Gatecoin exchange shuts down Central Bank of Russia Plans on Limiting Cryptocurrency Trading Basel Committee Issues Warning to Banks for Cryptocurrency Risks Coinbase Custody Unveils New Cold Storage Cryptocurrency Trades Ex-Mt Gox Head Will Serve No More In Jail Well, another turn
Mt. Gox CEO, Mark Karpeles was found ‘not guilty’ of the fund embezzlement charges imposed on him. However, he was found guilty of submitting falsified records to the Japanese District Court. The Tokyo District Court has passed a 2-year 6-month sentence suspended for 4 years. Hence, Karpeles has been laid off with a warning and a
The infamous Mt. Gox saga will finally meet an end in the Japanese Courts on 15th March 2019. The owner of the exchange, French Mark Kerpeles, 33, is accused of ‘faking digital data and embezzling millions of dollars ($3 million).’; If found guilty he will be heavily penalized and might serve a sentence of ten
Billionaire Bitcoin Investors and founders of Gemini Trust, Tyler and Cameron Winklevoss, recently addressed the on-going issues related to ‘protection of cryptocurrency wallets’ and ‘delayed regulations.’ ‘Carcasses on the road of Crypto’ The security, feasibility of access and regulatory approval around an asset class, determines the FUD (Fear, Uncertainty, and doubt) characteristics around the pattern.
Bitcoin has been characterized as the digital gold that according to some bitcoin proponents is better at being gold than gold itself. Bitcoin is also predicted to surpass the $8 trillion market cap of gold and emerge as the store of value. Now, Tuur Demeester, the Founding partner at Adamant Capital, has calculated the Bitcoin
Although Mt.Gox is bankrupt since last four years, the controversies and talks on it didn’t finish yet. Recently leaked data reports that bankrupted Japanese bitcoin exchange, MtGox, reportedly sold $312 million cryptocurrencies through Japan’s BitPoint exchange, BitPoint. Massive Amount of Crypto Sold on Japanese Exchange It was revealed on a website ‘goxdox.com’ by an unidentified
The latest report from a local media of Japan unveiled that Former CEO of MtGox bitcoin Exchange has fraudulently manipulated data and scammed $3million worth of virtual currencies – henceforth, prosecutors proposes 10 years prison term at the Tokyo District Court. Manipulation of Trading System Mt. Gox Co., was once the largest cryptocurrency exchange of Japan
According to a recent document released, Civil Rehabilitation Trustee for Mt Gox., Nobuaki Kobayashi, who is often termed as “Tokyo Whale” in the crypto circles, has disposed off another 25.98 billion yen ($230 million) of Bitcoin and Bitcoin Cash. The following step was taken by the bankruptcy trustee, according to the release, was a measure
In mid-August, a Redditor named “sick_silk” took the world by surprise when he posted that a dormant wallet containing 111,114.62 $BTC / $ BCH had got active indicating that the wallet belonged to the Dark Web drug’s marketplace SilkRoad. But now it turns out that there is no SilkRoad involvement. In the latest development regarding
The last couple of weeks Bitcoin price are slowly and steadily moving up. While many believe its happening due to the news built-up around Bitcoin ETF, according to Redditor “sick_silk”, it could be because of a huge movement of Bitcoins and its forks from the wallets that were inactive for almost 4 years carrying USD