November, The Fed, Taproot And Mt. Gox Will Pay 150K BTC To The Injured?

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2022-01-12 17:07:24

Market situation

At the beginning of November, the market increased slightly and prospered. Bitcoin is still around 61,000 USD and at one point increased to over 63,000 USD. And ETH yesterday reached a new high at more than 4,500 USD.

ETH price has held firmly above the $4,000 level for days. ETH’s burn mode also helps ETH’s annual inflation to 60.8%. The top 10 coins contributing to copper burning can be mentioned as Uniswap, Tether, Metamask, OpenSea, SHIB, Fat Ape Club,….

Although coins like OpenSea or SHIB are not very popular with investors, they are also high volume coins on the network and contribute to the increase in ETH burning.

Besides, the growth of Mana coin following the trend of Metaverse also increased sharply. Or DOT has increased more than 17% in the past day.

The market also has a lot of good news given by famous investors. Peter Thiel, the co-founder of PayPal and Palantir Technologies, once admitted that he feels ignorant about the digital asset class and that he wishes he had bought more Bitcoin.

And recently, at the second National Conservation Conference (NatCon) in Florida, Peter Thiel said that Bitcoin’s dramatic rise is an indication of a continued rise in inflation. He suggested Bitcoin skyrocketing as a sign that people are worried about inflation as the US continues to print the dollar pushing into the market.

In November, the US Federal Reserve will also have a meeting. Investors are also waiting for the Fed’s actions to combat inflation. If the Fed reduces bond purchases or increases interest rates, it will help reduce inflation, but it will affect the economy in the short term.

Mt.Gox exchange will compensate 150,000 BTC for hack victims

First launched in 2010 by programmer Jed McCaleb and later purchased by Karpelès, Mt. Gox was one of the biggest exchanges in the world in the early days of cryptocurrency located in Japan.

However, a hack in 2011 and the subsequent collapse of the exchange in early 2014 affected nearly 24,000 users on the exchange, mostly cryptocurrency holders. These events resulted in the loss of 850,000 Bitcoins, or about $460 million at the time and $45.8 billion today.

After Mt. Gox went bankrupt and launched an investigation, so far, the amount they have recovered is only 150,000 BTC. Recently, after being approved by the court, the exchange announced that it will return this BTC to those who were damaged in the 2011 hack. However, the form of payment in BTC or cash, or the time to start. payment has not yet been received Mt. Gox official announcement. Affected people also participated in voting on the option to receive the compensation amount.

According to documents from the court as well as the person in charge of the case, only about 20,000 people will now be paid compensation. Others who may not have filed the necessary paperwork with the court will not be paid. The payment amount will not be paid once but is divided into installments and lasts for a long time. So, for now, there is no need to worry about if this amount of BTC is paid in full and leads to a sell-off. Let’s wait for new updates from the Mt. Gox.

Some other interesting information:

  • The famous Tampa Bay Buccaneers winger Tom Brady threw his touchdown record last Sunday. Then, Mike Evans, who caught the pass, failed to recognize the ball as a record for Brady and handed the ball to a supporter in the stands. So Tom Brady gave a fan one Bitcoin in exchange for his 600th career hit ball. This is also a very effective way to promote BTC thanks to the celebrity of the FTX exchange.

  • Aaron Rodgers, the famous midfielder for the Green Bay Packers rugby team, said he will receive a portion of his $22 million salary from his National Football League in Bitcoin.

  • Restaurant chain BurgerKing launches crypto-related campaigns for customers. When placing a minimum of 5 USD, customers can receive a code that can redeem Dogecoin on Robinhood or have a chance to win some BTC, ETH or DOGE in this marketing campaign. Crypto can be seen gradually entering everyday life.

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