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The Japanese court allowed the process of returning bitcoins to Mt. Gox
The Tokyo court found no reason to reject the draft version of the civil rehabilitation plan for the defunct cryptocurrency exchange Mt. Gox. This was announced today by the asset manager of Mt. Gox Nobuaki Kobayashi.
The next stage should be a vote among creditors, which will be open on March 24 and will last until October 8. A meeting of users will take place on October 20. You can take part in the vote using the online form, a written request, or in person when attending a meeting. Lenders are expected to support the plan, after which Kobayashi can begin distributing the remaining assets between them.
Around 165,000 BTC worth $ 8 billion at the current exchange rate and 165,000 BCH worth $ 500 million are subject to distribution. The details of the process will depend on the individual preferences of each lender. It is assumed that first everyone will receive $ 2,000 in fiat currency, after which bitcoins will be transferred. Trustnodes expects the distribution to be completed by the end of this year.
Mt. Gox was founded in 2010 and was once the largest cryptocurrency exchange in the world. After a series of hacker attacks, the company filed for bankruptcy in 2014. The resolution of related legal issues resulted in a lengthy process, due to which creditors still cannot receive the payments due to them.
In January, CoinLab offered former Mt. Gox option for early distribution of payments.
Yesterday, the average transaction fees for Bitcoin and Ethereum networks dropped to the equivalent of $ 14 and $ 11, respectively. Such numbers have not been observed since early February.
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An updated rating of the size of corporate reserves of public companies in bitcoins.
CC Ecoinometrics
Analysts remind that March is usually a difficult month for Bitcoin. Excluding events in 2013 and 2019, the cryptocurrency ends the first month of spring with a drawdown.
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Grayscale's funds exceed $ 42 billion.
GBTC owns over 630 thousand BTC (≈ $ 35 billion), which is 3.1% of the maximum Bitcoin emission.
The SEC filed the first amended complaint against Ripple: Ripple executives manipulated the market through XRP sales and also paid trading platforms to promote XRP.
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🖋 On CME, the absolute record for daily volume is $ 5 billion. Open interest is also at record levels.
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Bitcoin’s 3m realised volatility is still lower than the 2017 boom.
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Bitcoins on the addresses of exchanges according to Glassnode have been declining throughout 2020, a longer and more significant trend compared to the period before the previous bull market in 2017.
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Apple announced a partnership with the famous blockchain company BitPay. Now customers of the latter will be able to add their Mastercard cryptocurrency cards to the Apple Pay wallet and essentially spend bitcoins using an iPhone.
Company representatives say that Google and Samsung will further implement the same.
JPMorgan: don't expect big companies to invest in bitcoin following Tesla
Tesla Motors' decision to buy bitcoins and start accepting them as payment for electric vehicles rocked the cryptocurrency industry. The cryptocurrency community looks forward to further success for Bitcoin. However, specialists from the largest American financial holding JPMorgan do not think that other large firms will follow Tesla's example.
They believe Tesla's $ 1.5 billion purchase of Bitcoin will not necessarily trigger a wave of similar investments by large corporations. JPMorgan analysts, led by Nikolaos Panigirtzoglou, argue that Bitcoin's high volatility could deter cautious investors from investing in the popular cryptocurrency. “The main problem with the idea that large corporations will follow Tesla's lead is the volatility of bitcoin,” the note to investors said.
According to JPMorgan, even a small percentage of bitcoin in corporate portfolios will be associated with a high level of risk, since such companies usually maintain their portfolio volatility at around 1%. Even if 1% of the total allocation is invested in Bitcoin, this "will cause a serious increase in the volatility of the entire portfolio." For example, if the annual volatility of bitcoin is 80%, then the portfolio volatility can rise to 8%.
Lazarus switched to DeFi. The North Korean hacker group has begun to use decentralized finance to cover their tracks. Attackers are less and less using traditional exchanges to launder cryptocurrencies and have completely abandoned p2p services.
The North Korean group not only did not stop its activities, but began to use more and more unique addresses for deposits in services for the purpose of money laundering. In December 2020, the hackers had 2,078 separate addresses.
Recall that it is Lazarus who is suspected of hacking the KuCoin exchange in 2020 and stealing $ 275 million.
🚗 Tesla was added to the first line in CoinMarketCap. Now you can compare the BTC rate and the Model 3 price.
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Last week was a record for the number of new subscribers among popular YouTube cryptobloggers. This means that the interest of ordinary retail investors in blockchain assets is growing.
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🔥 DeFi Strategy / Farm up to 100% APY in Yearn Vaults
So, DeFi was hitting the ground this week, and many started looking for alternatives to degene in stablecoins. Some of Yearn's stablecoin vaults are now absolute cash machines.
➕ For example, in the screenshot above, you can see that the crvDUSD pool currently brings in almost 80% of the annual profit, which is archival for stablecoin farming. But this is not the only good option. You can also get 57% per annum with the crvSUSD pool, 53% per annum with the crvGUSD pool, and so on.
These are not the only stablecoin-focused vaults of Yearn, but they are currently some of the most attractive. Just keep in mind that Yearn is moving to Yearn V2 optimized stores.
Coinbase is on the verge of going IPO, the company's valuation is between $ 50bn- $ 100bn, what is important to know?
- $ 3.4bn in total revenue until 2020
- the basis of revenue - transaction fees (96%)
- net profit of $ 322 million in 2020, net loss of $ 30 million in 2019
- 43 million verified users
- 2.8m monthly active users
- income in 2020 has doubled in 2020
- at the end of 2020, Coinbase had $ 1.1bn in cash reserves
- reserves in $ BTC $ 130m, $ ETH $ 23.8m, $ 34m in other digital assets
MicroStrategy bought BTC for $ 1 billion
MicroStrategy CEO Michael Sailor announced an additional acquisition of 19,452 BTC worth about $ 1 billion, which the company recently raised with convertible bonds.
The average purchase price is $ 52,765. In total, the company now owns 90,531 BTC worth about $ 4.55 billion at an average purchase price of $ 23,985.
Initially, the emission of Bitcoin was not limited
“While it is widely believed that Satoshi hated inflation, he never stated it himself and actually programmed Bitcoin's money supply to grow indefinitely. He modeled the money supply by analogy with launching four mining eras every 1024 years with equal intervals between them, each of which would last 140 years.
However, this leads to obvious problems. One of them is the discussion of how to name 1 billion bitcoins, what color of the symbol to use to represent it, and when users should switch to it as the main protocol.
To prevent the problem, it is proposed to limit the Bitcoin money supply. " - Peter Woolle, April 2014
BIP42: https://github.com/bitcoin/bips/blob/master/bip-0042.mediawiki
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The Block: Coinbase Buys Bitcoins For Tesla
Cryptocurrency exchange Coinbase helped Tesla complete a $ 1.5 billion Bitcoin purchase, The Block writes, citing sources. The companies themselves did not comment on this information.
Coinbase has been buying Bitcoin for Tesla in the first week of February for several days, sources said. The exchange took advantage of an already tested scheme and distributed the order across several OTC platforms. In the past, she bought Bitcoins for MicroStrategy in a similar way.
“By leveraging its own OTC agency platform along with ordering and algorithmic trading tools, Coinbase was able to help MicroStrategy acquire the desired position without impacting the market,” the exchange wrote earlier. - Our system takes one large order and breaks it down into many small parts, which are processed through various trading platforms. The trading team reached an average strike price that was lower than the price at the start of the purchase.
Sources also claim that more than five Fortune 500 companies are clients of Coinbase's primary brokerage service. Previously, rumors circulated on the network that Tesla bought Bitcoin using its own trading algorithm.
Tesla said it updated its investment policy in January 2021 to be "more flexible in further diversifying and maximizing cash returns that are not required to maintain normal operating liquidity."
“Subsequently, we invested a total of $ 1.50 billion in Bitcoin under this policy and may acquire and hold digital assets from time to time or over the long term. Moreover, we intend to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially under limited conditions. We can liquidate it or not do it after receiving it, ”the company said.
This is a good time to think about how decentralized, spot markets work.
Because of the severe cold in the USA, electricity prices in Texas have grown ... 450 (!) Times. The average spot price in Texas is now $ 9,000 per megawatt hour. A week ago, the price was about $ 20 per megawatt hour
Bitcoin entered the Top 15 largest currencies in terms of capitalization in the world.
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🌆 A smart city on the blockchain may appear in the desert of Nevada
The initiative belongs to the American investment company Blockchains LLC.
According to the creators, the city will maximize the potential of blockchain technologies. Residents will be able to carry out settlements exclusively in cryptocurrencies, and all data will be stored in a distributed ledger.
To manage the city, the project team plans to create its own government and judicial apparatus.
According to Blockchains, the construction will take 75 years, and they plan to start in 2022. To keep everything legal, Blockchains asked the authorities to change the current legislation and introduce the concept of "innovation zones".
Yesterday, the average transaction fee on the Bitcoin network was the equivalent of $ 28. The indicator has been holding at this level for two days in a row.
Recall that his absolute record was recorded on December 22, 2017. Then the cost of the translation was 55.16 dollars
$NWC is a coin with insane fundamentals.
They just launched their own mobile crypto app! I expect it to fly on KuCoin and Uniswap any day now.
With the launch of their mobile crypto app, token utility will increase and it will drive the price to 2 usd.
They have rumored to list on Binance, so in my opinion this a great entry. They can easily 10x.
KuCoin 👉 https://welcome.newscrypto.io/2Oj7zEK
Uniswap 👉http://welcome.newscrypto.io/372BXdk
Yesterday, actress Lindsay Lohan called Bitcoin to the moon, but she didn't stop there. She stated that she considers the first cryptocurrency to be the future and at the same time offered to buy a unique NFT token with her. So far, 30 airs are offered for it, that is, about 52 thousand dollars.
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The market reaction to the Tesla news is obvious. Binance is down.
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Binance Coin BNB has just updated its all-time high at $ 54.28. Due to the growth, the cryptocurrency, among other things, outstripped Bitcoin Cash in market capitalization.
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