Mt. Gox, the bankrupt cryptocurrency exchange, has recently made progress in repaying its creditors, distributing digital assets to 17,000 claimants as of July 31.
This follows prior payments made on July 5, 16, and 24.
Despite these efforts, Bitcoin’s price has dropped significantly. Arkham Intelligence reports that Mt. Gox still holds about $2 billion worth of Bitcoin (around 32,899 BTC), which will be distributed later.
Creditors are advised to wait as the final distribution depends on verifying accounts and coordinating with partner exchanges.
Currently, Bitcoin is trading at $64,000, reflecting a nearly 3% decline in the past day.
Trading volume has surged by 28.43% to $36.15 billion. This price dip follows a recent peak of $69,972 and comes after the US government moved BTC seized from the Silk Road marketplace, resulting in over $227 million in market liquidations.
Swan, a Bitcoin-focused financial firm, has issued a striking market update suggesting that the current BTC cycle isn’t just another repeat of the past—it might be the last of its kind.
In a bold move to reshape the future of ApeCoin, Yuga Labs has introduced a proposal that would dissolve the existing ApeCoin DAO and replace it with a streamlined management body called ApeCo.
Ross Ulbricht, founder of the infamous Silk Road marketplace, is back in the headlines after receiving a mysterious transfer of 300 BTC—valued at roughly $31 million.
Bitcoin could be heading for a notable dip if it fails to stay above a key price zone, according to market watcher DonAlt.