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Gox Watch: Repayments now 39% complete with $5.4B left to go Mt. Gox trustees have sent out billions of dollars in bitcoin over the past three weeks, and prices are doing just fine. Affected users are being credited their long-lost bitcoin to their exchange accounts, 10 years after the platform initially went bust. So, trustees must send bitcoin to those platforms in batches, the first of which was coincidentally sent right at the pico bottom for bitcoin prices: $54,000. Almost 54,910 BTC ($3.69 billion) has been forwarded to crypto exchanges on behalf of creditors since July 5. The latest batch of repayments was made in the very early hours Wednesday ET, when 2,361 BTC ($158.25 million) was sent to Bitstamp. Markets had anticipated the first Mt. Gox repayments for weeks, but exactly when they would begin was unknown. The initial transfer of 1,544.7 BTC to Japanese platform Bitbank was worth $84.9 million at the time. Bitcoin has however since recovered by 22%, so the same sum would fetch $103.85 million right now. There was initially 141,490 BTC ($9.5 billion at current prices) to distribute to creditors, and now there’s 86,580.2 BTC ($5.37 billion) remaining in Mt. Gox’s wallets, per Arkham Intelligence data. An additional amount in bitcoin cash is also to be distributed, although it would be worth much less in terms of dollar value. That means the repayment process is now 39% complete. Last week, it was 36% of the way through. Payments are expected to wind up completely within the next two and a half months, but it could be that transfers to crypto exchanges accelerate from here on out. $BTC #BTC #MtGox
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👀 Can VeChain's VeBetterDAO End VET Price Crash? VeChain releases new features for VeBetterDAO asset tokenisation protocol allowing developers to launch new apps, but VET price struggles to find direction. The cryptocurrency market is struggling to grasp stability after Ethereum ETFs launched amid immense liquidity. VET price like majors Bitcoin, ETH, and Solana faces multiple trend-determining factors including supply, demand, and a potential trend reversal. On the other hand, traders seem unsettled while scheming for potential entries, considering VeChain price correction from its Q1 peak of $0.055. A modest 0.06% increase in the futures market open interest may not be enough to turn the tables around for VET. However, considering the ongoing developments in the ecosystem, VET might finally find a major price catalyst. 🔸 A Look Into VeChain’s VeBetterDAO Protocol VeChain’s development team launched the groundbreaking VeBetterDAO; a decentralized app marketplace designed to support sustainable assets through tokenization. The products target NGOs, enterprises, and individuals who wish to tokenize their sustainable actions. VeBetterDAO functions on a DAO principle implying that governance is in the hands of the community which holds 100% of the power. However, VeBetterDAO is much bigger than tokenization and governance, especially with the protocol’s newly launched developer-centered features such as adding new apps, and a testnet environment. The reward system allows users interacting with applications on VeBetterDAO to earn B3TR tokens. Using sustainable apps, voting on governance proposals, and contributing to community discussions will see users increase their B3TR earnings. $VET #VET #VeChain
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$108 billion VanEck CEO says “#Bitcoin is in my blood.” 👀 #VanEck #Bitcoin
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How to Evaluate New Crypto Projects Before Investing ?
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⚠️ Tomorrow Trump and Senator Lummis will speak at the Bitcoin 2024 conference The senator plans to announce the development of legislation on the use of Bitcoin as a strategic reserve in the United States. The specific details of the bill are unclear; its purpose is to direct the Fed to buy Bitcoin and hold it as a reserve asset, much like the country's central bank holds gold and foreign currencies, to help manage the US monetary system and maintain a stable value of the US dollar." #Trump #Bitcoin2024 #Bitcoin #BTC
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