{"id":15380,"date":"2024-07-20T15:30:00","date_gmt":"2024-07-20T12:30:00","guid":{"rendered":"https:\/\/forklog.com\/en\/mt-gox-payouts-ethereums-5000-prospect-and-bitcoins-ton-bridge\/"},"modified":"2024-07-20T15:30:00","modified_gmt":"2024-07-20T12:30:00","slug":"mt-gox-payouts-ethereums-5000-prospect-and-bitcoins-ton-bridge","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mt-gox-payouts-ethereums-5000-prospect-and-bitcoins-ton-bridge\/","title":{"rendered":"Mt.Gox Payouts, Ethereum&#8217;s $5000 Prospect, and Bitcoin&#8217;s TON Bridge"},"content":{"rendered":"<p><em>&#8220;Should Have Bought&#8221; is a news podcast by the ForkLog editorial team covering the week&#8217;s main industry events and the hottest tokens.\u00a0<\/em><\/p>\n<p><em>Topics: the impact of the Mt.Gox factor, German &#8220;bears,&#8221; anticipation of an Ethereum ETF, and glimpses of fairness in the crypto industry.<\/em><\/p>\n<p><em>Participants: ForkLog authors <\/em><em>Lena Jess<\/em><em>, <\/em><a href=\"https:\/\/linktr.ee\/halflife85\"><em>Alex K.<\/em><\/a><em>, <\/em><em>Vasily Smirnov<\/em><em>.<\/em><\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/dWYYhdIUzeE?si=sK1b0pdrY2mwC_Gm\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2 class=\"wp-block-heading\">How Serious is the Mt.Gox Factor?<\/h2>\n<p>The bankrupt exchange Mt.Gox transferred 47,229 BTC ($2.99 billion) and 48,641 BTC ($3.1 billion) to unidentified addresses. Among the major recipients was the American exchange Kraken.<\/p>\n<p>Following the exchange&#8217;s movement of coins, the price of Bitcoin fell below $63,000. A similar scenario occurred in late June when the Mt.Gox trustee announced the start of compensation payments.<\/p>\n<p>However, some experts believe the Mt.Gox factor is exaggerated. For instance, CryptoQuant CEO Ki Young Ju noted that since 2023, $224 billion worth of digital gold has been sold during the current bull phase, yet its price has risen by 350%.<\/p>\n<h2 class=\"wp-block-heading\">Germany Sold 50,000 BTC<\/h2>\n<p>After an &#8220;emergency sale&#8221; of 49,858 BTC, the German government managed to raise an &#8220;unprecedented&#8221; \u20ac2.6 billion ($2.88 billion).<\/p>\n<p>The assets were confiscated from the pirate portal Movie2k in January. At that time, their value was approximately $2.17 billion.<\/p>\n<p>The agencies responsible for the funds were prohibited from waiting for price increases due to &#8220;unsuitable&#8221; market conditions, so the transactions were conducted &#8220;as quickly as possible.&#8221;<\/p>\n<h2 class=\"wp-block-heading\">Will Ethereum Reach $5000?<\/h2>\n<p>The SEC approved applications for the launch of a mini-ETF based on Ethereum by Grayscale and a spot exchange-traded fund by ProShares, with trading expected to begin on July 23. The products do not provide for staking, although the situation may change in the future.<\/p>\n<p>The Grayscale Ether Mini Trust will charge a fee of 0.25%, while the senior counterpart will charge 2.5%. Analysts believe the launch of these funds will help mitigate potential outflows from <span data-descr=\"Grayscale Ethereum Trust\" class=\"old_tooltip\">ETHE<\/span> and attract a wide range of investors.<\/p>\n<p>Analysts at Bitwise are confident that the Ethereum ETF will push the cryptocurrency&#8217;s prices to historical highs above $5000. However, the company&#8217;s Chief Investment Officer Matt Hougan noted that price dynamics may initially be unstable due to outflows from the Grayscale Ethereum Trust.<\/p>\n<h2 class=\"wp-block-heading\">A $235 Million Hack<\/h2>\n<p>On July 18, Cyvers Alerts reported a hack of the Indian cryptocurrency exchange WazirX. Experts discovered a series of suspicious transactions from the platform&#8217;s multisig wallet on the Ethereum network, leading to the transfer of $234.9 million worth of assets to a new address.<\/p>\n<p>The perpetrator exchanged PEPE, GALA, and USDT for ETH and stole over $100 million in Shiba Inu tokens, 15,290 ETH ($52 million), and 20 million MATIC ($11 million). The exchange suspended all withdrawals and launched an investigation, confirming a private key leak as the cause of the hack.<\/p>\n<p>Elliptic analysts tracked the movement of the stolen funds and stated that North Korean hackers were behind the cyberattack.<\/p>\n<p><em>Subscribe to the podcast:<\/em><\/p>\n<p><a href=\"https:\/\/youtu.be\/dWYYhdIUzeE?si=lvoeraXtQX_mpUK5\" title=\"\">YouTube<\/a><\/p>\n<p><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/%D0%BD%D0%B0%D0%B4%D0%BE-%D0%B1%D1%8B%D0%BB%D0%BE-%D0%BF%D0%BE%D0%BA%D1%83%D0%BF%D0%B0%D1%82%D1%8C\/id1728986783?uo=4\">Apple Podcasts<\/a><\/p>\n<p><a href=\"https:\/\/open.spotify.com\/show\/5RvP1iutmrT4D0LyWiOkAG\">Spotify<\/a><\/p>\n<p><a href=\"https:\/\/music.yandex.ru\/album\/29567644?dir=desc&#038;activeTab=about\">Yandex Music<\/a><\/p>\n<p><a href=\"https:\/\/www.deezer.com\/ru\/show\/1000645132\">Deezer<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Should Have Bought&#8221; is a news podcast by the ForkLog editorial team covering the week&#8217;s main industry events and the hottest tokens.\u00a0 Topics: the impact of the Mt.Gox factor, German &#8220;bears,&#8221; anticipation of an Ethereum ETF, and glimpses of fairness in the crypto industry. Participants: ForkLog authors Lena Jess, Alex K., Vasily Smirnov. How Serious [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1241],"class_list":["post-15380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-podcast"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15380"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15379"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}