CRYPTO

Authored by Zoltan Vardai via CoinTelegraph.com,

Nearly half of the Bitcoin owed to Mt. Gox creditors has been distributed, but after a decade of waiting, many creditors are still holding onto their coins.

Over 41.5%, or 59,000 Bitcoin from the total of 141,686 BTC, has been redistributed to creditors of the defunct Mt. Gox exchange.

Despite receiving nearly $4 billion worth of Bitcoin, the Mt. Gox creditors aren’t selling, according to a July 29 Glassnode report.

BTC: Mt. Gox Trustee Outflows. Source: Glassnode

Over $9.4 billion worth of Bitcoin was owed to approximately 127,000 Mt. Gox creditors who have been waiting for over 10 years to recover their funds – threatening significant sell pressure that could tank Bitcoin’s (more…)

Something odd just happened in crypto-land…

The Grayscale Bitcoin Trust ETF (GBTC) suddenly crashed 11%…

…completely decoupling from the underlying bitcoin price…

GBTC has seen almost constant serial outflows (while the rest of the ETF patch has seen inflows)…

As CoinTelegraph reports, asset management firm Grayscale Investments has recorded over $20.4 billion in outflows from its spot Bitcoin and Ether exchange-traded funds (ETFs) combined. (more…)

It appears the Biden administration does not want former President Trump's plan to enable a strategic bitcoin reserve to come to fruition (or at the very least, shrink the size of the reserve dramatically).

Less than 48 hours after Trump spoke at a major Bitcoin conference in Nashville about his ambitious goals for bitcoin in America, the Biden administration has decided that this is an opportune moment to transfer around $2 billion worth of its bitcoin stockpile (e.g. Silk Road (more…)