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On June 24, 2024, Tree News, a crypto news aggregator, reported via Bloomberg that Mt. Gox is set to begin repaying debts in Bitcoin and Bitcoin Cash in early July.
Repay This move, while not entirely unexpected, is an unavoidable shock to the market. Signs of this event surfaced in May when Mt. Gox transferred its entire holding of Bitcoin, worth $9.6 billion, to a new address. According to the former CEO of the exchange, this transfer was to facilitate the upcoming asset distribution process.
In a report from September 2023, the trustee of Mt. Gox announced that creditors would be repaid with 142,000 Bitcoin and 143,000 Bitcoin Cash, along with fiat currency totaling 69 billion Japanese yen (approximately $510 million), by October 2024.
A portion of the debt in yen was already repaid on April 23, so the upcoming repayments will be in Bitcoin (BTC) and Bitcoin Cash (BCH). The auditing and transfer processes are being expedited, allowing users to receive their assets by early July, rather than waiting until October as initially scheduled. $BTC #Write2Win #CryptoTradingGuide #binance #BinanceTournament #bitcoin
The trading activity of Bitcoin âwhalesâ (individuals or entities holding large amounts of Bitcoin) has slowed down significantly over the past two days, coinciding with Bitcoinâs price drop below $63,000.
According to data from Santiment, on June 23, the total number of Bitcoin whale transactions (holding over $100,000) over the previous two days was 9,923, marking a 42% decrease from the 17,091 transactions recorded in the preceding two days.
This slowdown occurred as Bitcoinâs price fell from $64,685 to $63,422 and continued to drop to $62,231 at the time of writing, based on data from AZC $BTC #binance #binance #bitcoin
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#binance #btc #bitcoin #StartInvestingInCrypto Legendary trader Peter Brandt predicts Bitcoin price is about to increase 344% Veteran trader Peter Brandt expects Bitcoin to gain 344% against gold over at least the next 12 months, based on current technical indicators. Veteran trader Peter Brandt has made an impressive new prediction about Bitcoin's future$BTC value relative to gold. According to his analysis, he predicts Bitcoin is set to continue to appreciate against precious metals over the next 12 to 18 months. He predicts that the number of ounces of gold needed to buy one Bitcoin will eventually reach 100, which would mean a 344% increase in Bitcoin's current value relative to gold.
Since its inception Bitcoin $BTC has gained against Gold. This chart shows the # oz. of $GC_F to buy one BTC. The ratio should chop for another 12 to 18 months â then advance to 100 oz of GC to buy a BTC What say you @PeterSchiff pic.twitter.com/3G2adZV0KM â Peter Brandt (@PeterLBrandt) May 30, 2024
Brandt's forecast is supported by the chart he shared, noting how Bitcoin has performed historically compared to gold. If Brandt's prediction comes true, Bitcoin fans could reap huge amounts of profit from their investment.
At the time of writing, Bitcoin is trading for $68,321.91, equivalent to 29 ounces of gold per BTC, and has seen a slight increase of 0.45% over the past 24 hours.
The next 12 to 18 months will be a key time to see whether Brandt's bullish prediction comes true.
$BTC As I predicted, BTC is in a short-term uptrend or may extend to above $70,000. #bitcoin #btc #StartInvestingInCrypto And next we have to pay attention to Pepe$PEPE because it will have a sudden increase in price$ next month. Along with that, pay attention to Sats$#Web3 #SATS1000 , perhaps these are two cash flows that can expand in the upcoming market. next. If you find this article useful, please follow me and don't forget to give me a gift when you succeed. Wishing you luck đ
đš Bad News for Bitcoin and Altcoins from US President Biden!đš
U.S. President Joe Biden has just announced that he vetoed a House Joint Resolution aimed at repealing Staff Accounting Bulletin 121 (SAB 121) from the U.S. Securities and Exchange Commission (SEC).
đ **What is SAB 121?** SAB 121 is an SEC accounting guideline that requires financial institutions holding cryptocurrencies for customers to keep these assets on their own balance sheets. Critics argue this makes it challenging for financial institutions to collaborate with crypto companies.
During his veto decision, President Biden emphasized his commitment to protecting consumers and investors, stating he won't support "any measures that would jeopardize the welfare of consumers and investors." đĄïž
âBy invoking the Congressional Review Act, this Republican-led decision would inappropriately restrict the SEC's ability to establish appropriate guardrails and address future issues,â Biden explained.
He reiterated his desire to work with Congress on legislation for the digital asset market, stressing the need for "appropriate guardrails that protect consumers and investors." đŠđ„
Earlier on Friday, Senator Ron Wyden (D-Ore.), a member of Biden's party who voted for the resolution, expressed concerns at the Consensus 2024 conference. He noted that this guidance sets a different standard for crypto compared to other assets in the financial sector.
Sentenced on April 30, CZ is still free on bail until the end of May. CNBC contacted CZ's defense team at Latham & Watkins and confirmed that the former Binance CEO began being detained at home. federal prison in Lompoc. $BNB