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ZKsync developers introduced the "elastic chain" architecture

The ZKsync L2 solution team has unveiled a new ecosystem design, initiating the transition to an "elastic chain" architecture. This is reported by The Block.

Launched on June 7, the v24 update transforms ZKsync from a single ZK rollup to a network of multiple chains. The blockchains are expected to have interoperability and a unified user interface.

According to the ZKsync 3.0 roadmap, the architecture changes include reconfiguring the ecosystem's own bridge to the token vault. The goal of this move is to improve interoperability between the expanding array of ZK networks.

According to the developers, the move to an "elastic chain" will provide a seamless experience, similar to a single blockchain, without the need to switch between networks.

ZKsync Era will act as the base layer. By the end of 2024, the ecosystem will encompass more than 20 protocols developed using ZK Stack. These include projects like Lens Protocol, QuarkID, PlayFi, GRVT, Cronos zkEVM, Nodle, and others.

On June 17, the ZKsync team launched the ZK governance token, distributing 3.6 billion coins (17.5% of total issuance) to early users. Airdrop faced criticism from the community as only 13% of the 6 million unique wallets were allowed to join, many of which turned out to be "sybils".

The distribution of tokens caused a burst of activity in the network, which was short-lived - onchain metrics continued to fall, as did the price of the asset.

In June, the project announced a new ecosystem management model called ZK Nation.

Bitcoin-ETF with outflows for 7 days in a row

Bitcoin spot ETFs have experienced significant outflows, a trend that has continued for seven consecutive trading days.

After U.S. Bitcoin exchange traded funds recorded outflows of $544.1 million from June 17 to June 21.

However, that streak continued, with total net product outflows totaling $174.5 million on June 24, according to Farside Investors.

Grayscale's ETF, GBTC, reported the largest net outflow of $90.4 million in a single day, followed by IBIT BlackRock with $35.2 million.

Additionally, spot BTC ETFs experienced the largest outflows in the two-week period following their approval in January, according to Farside.

During that period, investors withdrew a total of $1.3 billion from the funds. according to YahooFinance.

Hamster Kombat game is being used to influence Iran politically

Iranian authorities have described the popular blockchain game Hamster Kombat as a soft power tool used by Western states to influence the country's population.

Deputy Commander of the Iranian Armed Forces Habibollah Sayyari says Hamster Kombat is being used to distract voters from the upcoming presidential election scheduled for June 28. And Grand Ayatollah Makarem Shirazi went even further and said that the entire crypto industry is mired in fraud.

Due to the imposed sanctions, Iran has a difficult economic situation and the inflation rate is expected to reach 30% this year. Due to the rapid depreciation of the national fiat currency, the Iranian rial, digital assets are growing in popularity. At the same time, blockchain games with the function of earning money are becoming a significant source of income. Thus, the demand for Hamster Kombat and other similar software in Iran is due to objective reasons, and not to the intrigues of ill-wishers.

In Hamster Kombat, launched in Telegram messenger, one can earn up to 5 million Hamster Kombat tokens (HMSTR) without taking into account bonuses for combos reaching 5 million coins. Techopedia journalists predict that after the start of trading the rate of this cryptocurrency will be at least $0.01. It turns out, playing Hamster Kombat, you can theoretically earn $50,000 in seven days.

Former cryptocurrency advisor joins Biden's team

-- Carol House has joined Biden's team.
-- She will become an adviser on cybersecurity and critical infrastructure policy.
-- The woman previously provided advice on cryptocurrency issues.

Former cryptocurrency advisor Carole House (Carole House), who co-authored Biden's 2022 decree on cryptocurrencies and digital assets, returned to work in the team of the US President. She announced on her LinkedIn.

"I am honored to return to the government in the Biden administration, where I serve as Special Advisor for Cybersecurity and Critical Infrastructure Policy on the White House National Security Council," wrote House.

Note that her return comes amid a change in the US President's attitude towards cryptocurrencies. Pantera Capital recently said that Joe Biden's favorable stance on "domestic cryptocurrency innovation" signals a change of tone in the current administration.

Blockchain Association Executive Vice President Dave Grimaldi said in an interview with DLNews that House is an impartial expert whose pragmatic approach will greatly benefit Biden's team.

Recall, earlier the media reported that the campaign headquarters of the current head of the United States is working on the organization of accepting donations in crypto-assets.

It also recently became known that the Biden administration will participate in a round table on cryptocurrencies.

Media: Trump plans to speak at Bitcoin 2024 conference

- The media has learned that Donald Trump has been invited to the Bitcoin 2024 conference.
- The politician's office is still negotiating, but the probability of his speech is high, the press noted.
- The event will take place at the end of July 2024 in Nashville.

US presidential candidate Donald Trump plans to speak at the Bitcoin 2024 conference, which will be held from July 25 to 27, 2024. This is reported by Axios with reference to its sources.

Notably, other politicians will also come to the conference in Nashville. These include Democratic candidate Robert Kennedy Jr. who knocked Vivek Ramaswamy out of the presidential race and Republican Senators Bill Hagerty and Marsha Blackburn.

In a comment to The Block, the source noted that organizers have invited Trump, but his office has not yet confirmed the politician's arrival.

However, Axios is confident that Trump will speak at the conference, as his campaign relies heavily on the support of the cryptocurrency community.

Recall, Bitcoin 2024 is considered the main bitcoin event of the year. The conference will be held from July 25 to 27 in Nashville.

At the end of June 2024 will be a debate between Trump and his main opponent - the current US President Joe Biden. Experts believe that this event will lead to high volatility in the PoliFi token sector.

Ark Invest CEO Kathy Wood previously said she would vote for Trump. Allegedly his rule was more favorable for the economy.

Note, Bitcoin 2023 was held from May 18 to 20 in Miami. At the same time, the attendance of the event fell by more than half compared to 2022, which the organizers explained by the general drawdown in the market of crypto-assets and, as a consequence, a small interest of the community.

Sun took advantage of Ethereum's price drop to buy coins

During yesterday's drop in many cryptocurrencies, TRON founder Justin Sun bought $4.8 million worth of Ethereum (ETH) coins.

On June 24 at approximately 20:00 Moscow time, Sun transferred 1449 ETH from his Binance account to his cryptocurrency wallet. Judging by the time of the transaction, Justin purchased the coins when their price almost reached the bottom. Thanks to the subsequent correction, he managed to earn an unrealized profit of about $120,000.

Spot On Chain employees believe that San owns the cryptocurrency, as shortly before the withdrawal of Ethereum from Binance, Justin transferred $89.6 million worth of Tether (USDT) stablecoins to the exchange from his cryptocurrency wallet in the TRON network.

The TRON creator has withdrawn Ethereum from Binance five times in the past five days. In total, he bought 15,416 ETH worth $53.6 million on the trading platform at an average exchange rate of $3474. Now Ethereum is worth $3371, accordingly, San incurred an unrealized loss of 3%.

German authorities withdrew 400 BTC to crypto exchanges

-- On June 25, German authorities withdrew 400 BTC from a controlled account to crypto exchanges.
-- Prior to that, they sold about $200 million worth of bitcoins.
-- The sale coincided with a sag in the price of the first cryptocurrency.
-- However, the portfolio is still in the unrealized gains zone despite the price drop.

German authorities continue to sell bitcoins from their portfolio, according to the Arkham Intelligence platform. On June 25, 2024, they withdrew another 400 BTC.

Recall, earlier the Arkham team said that the German authorities control bitcoins for $2.8 billion at the exchange rate at the time. At the same time, on June 19-20, 2024 from the government account withdrew assets for $195 million to cryptocurrency exchanges.

After that, according to the platform's data, bitcoins were accumulated on the wallet for some time. On June 25, 2024, 400 BTC was withdrawn from it in two tranches to Coinbase and Kraken.

At the time of writing, bitcoin is trading at $60,783, according to TradingView. The said volume of the first cryptocurrency is valued at $24.3 million. Prior to the June 24-25 rate sag, this amount would have been around $25.6 million.

Whether the sale is due to a drop in the price of the asset is unknown at the time of writing. Notably, despite the drawdown, the bitcoin portfolio of the German authorities is "in the plus".

The unrealized profit on it amounts to $1.1 billion

Artificial intelligence tokens grow amid NVIDIA's market capitalization decline

Artificial intelligence-related cryptocurrency tokens have risen over the past week despite the fact that the market capitalization of Nvidia's stock has fallen by $430 billion, a company that crypto traders are watching closely to anticipate the artificial intelligence market. According to Google Finance, the share price of Nvidia, which makes computer chips that many AI companies use to run their AI models, has fallen 11.08% over the past five trading days.

On the other hand, Fetch.AI (FET) and SingularityNET (AGIX) are up 23.46% and 20.83% over the past seven days, contrasting with declines in the broader cryptocurrency market over the same period, according to data from CoinMarketCap.

The two largest cryptocurrencies by market capitalization, bitcoin and Ether, fell 9.17% and 4.23% in seven days.

The drop in Nvidia shares came amid concerns that its president, Jensen Huang, along with other executives, have recently sold off a significant amount of shares.

Nvidia's share price has fallen 11.16% over the past five trading days.Source: Google Finance

Huang has liquidated $79.38 million worth of Nvidia shares since June 13, according to a June 21 filing with the SEC, which caught the attention of trade research firms.

"Nvidia executives have been selling their shares at the FASTEST TEMPTS in ALL HISTORY," Global Markets Investor said in a June 23 post, while another research firm said the total value of shares sold by Nvidia executives in a year is now approaching the billion-dollar mark.

"Nvidia insiders have cashed out more than $796 million this year," Barchart added, but portfolio analyst Oguz O countered that "most of it is pre-planned and doesn't bother me," which is common practice when an executive contracts with a brokerage firm to sell shares at certain prices.

As of June 24, Nvidia's market capitalization is $2.903 trillion, down nearly 13% in the past five trading days since it hit an all-time high of $3.34 trillion, according to YChart data.

Artificial intelligence cryptocurrency tokens and Nvidia have had several instances of parallel movement, most recently notable when Nvidia released its earnings report for the last quarter of 2023.

On Feb. 21, Nvidia announced revenue of $22.1 billion and $12.3 billion in profit, respectively, for Q4 2024, up 265% and 769% from Q4 2023.

OpenAI CEO Sam Altman's Worldcoin (WLD) is up 240% for the month, while OpenAI's own ARKM token from blockchain artificial intelligence analytics company Arkham Intelligence is up 211% over the same period.

Like other artificial intelligence tokens, these tokens also rose in value last week. At the time of publication, Worldcoin was up 9.07% over the past seven days, trading at $0.005, while Arkham was up 16.34%, trading at $1.96 over the same period.

U.S. state passes bill to support bitcoin

The US state of Louisiana has reportedly passed a bill in support of bitcoin, aimed at protecting access to the asset and limiting central bank digital currencies (CBDCs). The move coincides with another state also enshrining bitcoin rights into law.

Louisiana Governor Jeff Landry signed a bill in favor of bitcoins after approval from both parties in the House and Senate.

The law, proposed by Representative Mark Wright and Senator Jean-Paul Cousins, aims to ease access to Bitcoin while placing restrictions on CBDCs.

The new law ensures that individuals can safely store Bitcoins and businesses are allowed to use and accept BTC without facing legal hurdles.

The law also prohibits Louisiana from accepting CBDC payments and supports bitcoin mining in industrial zones to attract investment and boost the state's economy.

How much cryptocurrency have Donald Trump's supporters donated to his campaign?

Former US President Donald Trump is receiving significant cryptocurrency donations as the election approaches.

In-network cryptocurrency donations have reached nearly $60,000 XNUMX USD, not including donations made through centralized exchanges such as Coinbase.

According to blockchain analytics firm Breadcrumbs, Trump's campaign received $59,386,218 in cryptocurrency donations from XNUMX donors. Analyst James Delmore explained that many of the donations come through exchanges, which are not considered transactions on the network.

Most of the donations come to USDC sent through the Efirium, Base, and Polygon networks. Trump's campaign headquarters has raised more than $260 million in total, with traditional donations still leading the way.

The Winklevoss twins they announced a $2 million Bitcoin donation to Trump's campaign, supporting his stance in favor of cryptocurrencies. However, a portion of the twins' donation was returned due to exceeding the allowable amount.

Trump's campaign began accepting cryptocurrency donations in May, emphasizing his support for the industry. The move comes amid regulatory concerns and a shift in Congress toward legislation supporting cryptocurrency as the election approaches.

The Fetch.ai, SingularityNET and Ocean Protocol token merger will launch on July 1

The Artificial Superintelligence Alliance, which includes SingularityNET, Fetch.ai and Ocean Protocol, has provided an update on a token merger set to begin on July 1.

Initially, this strategic move will merge AGIX SingularityNET and OCEAN Ocean Protocol tokens into FET Fetch.ai, before being implemented on the ASI ticker at a later stage. The purpose of the merger is to optimize operations and improve efficiency for token holders.

Token migration will be done via dApp SingularityDAO with specific conversion rates set to migrate to FET and then to ASI tokens. This process will involve temporarily consolidating AGIX and OCEAN tokens into the FET token and maintaining active trading under the FET token.

Phase II of the merger will involve the deployment of the ASI token across multiple blockchain networks, supported by updates to the FET network and the introduction of new migration contracts. This phase will ensure the token's continued interoperability and effectiveness across different ecosystems.

Here are the conversion rates: 1 FET will be converted to 1 ASI, 1 AGIX to 0.433350 ASI and 1 OCEAN to 0.433226 ASI. The rebranding to Artificial Superintelligence Alliance will be reflected in the major data aggregators CoinMarketCap and CoinGecko.

The launch of the ZkSync token is not generating as much excitement as expected as the price continues to fall

The launch of the ZkSync token is disappointing as the price of ZK drops more than 13% in one week. Since the day of its listing, the token has been subjected to numerous sell-offs, leading to a significant drop in its value.

Initially, ZK saw a brief spike in market capitalization within the first few hours of its launch. However, this upward trend was short-lived as selling pressure intensified, especially from airdrop recipients. The decline in value was exacerbated by broader unfavorable market conditions.

The zkSync airdrop program sparked a frenzy of activity among recipients. Data from blockchain analytics firm Nansen showed that a large number of the top 10,000 recipients quickly sold their newly acquired tokens. Only 30% of all addresses kept all of their distributions. Conversely, 41% of recipients sold their tokens within hours of receiving them, highlighting a common trend of rapid cash-out.

The zkSync token launch was expected to be one of the biggest sell-offs of 2024, which is expected to benefit from bullish developments such as bitcoin halving and the approval of Bitcoin and Ethereum spot ETFs. Despite these positive outlooks, investor behavior has changed, with many deciding to sell their holdings shortly after trading began.

A network outage exacerbates the sell-off of ZK tokens

ZK currently has a market capitalization of $625 million at a fully diluted valuation of $3.67 billion, which is 36% lower than the original valuation.

The situation was further exacerbated by a performance failure in the zkSync network, which was struggling due to heavy load from airdrop and subsequent selling activity. The zkSync team recognized the network performance degradation on X, which apparently accelerated the sale as recipients rushed to unload their tokens.

A leading analyst shared his prediction on how the Mt Gox reset will affect the bitcoin price

Fred Krueger, a leading analyst and one of bitcoin's strongest supporters, recently shared his opinion on the potential impact of the collapse of cryptocurrency exchange Mt Gox on the distribution of bitcoins at the market price.

According to Krueger, Mt Gox will distribute approximately 100,000 bitcoins starting in July. Research firm Galaxy estimates that 65,000 BTC will go to individual users and at least 6,500 BTC will be liquidated. However, Krueger suggests that the actual figure could be twice that, i.e. 13,000 BTC.

To put this in perspective, this amount is roughly equal to the amount MicroStrategy (MSTR) acquired for $780 million just four days ago. Krueger notes that this acquisition had almost no noticeable impact on the market.

Mt Gox's bitcoin distribution will begin in July, but the exact timetable is unknown. The distribution could stretch over several months, adding an element of uncertainty to the market.

Despite the impending distribution, Krueger says that the market has already taken note of the event. Bitcoin's market value fell by $120 billion last week. Krueger believes that even with a 40x increase, the market has not only priced in the Mt Gox distribution, but has far exceeded it.

Tether will stop minting USDT on the Algorand and EOS networks

Tether's management has announced a strategic change in the company's policy with a priority to support community-driven blockchains. In this way, the organization and issuer of the USDT stablecoin expresses its commitment to maintaining a robust and innovative digital ecosystem for USDT and other tokens that are issued under the umbrella of the institution. In this regard, the specialists decided to stop supporting digital assets in Algorand and EOS networks.

The company assured: in order to maintain its commitments, experts are constantly evaluating the current levels of security and decentralization, seeking to find a balance between serviceability, usage and community interests. According to the representatives of the institution, the latter aspect plays a key role when it comes to integrating USDT into specific blockchains.

"We carefully evaluate the network architecture to ensure the security, usability and sustainability of the chosen blockchain. Our goal is to allocate resources where they can best improve reliability and efficiency, while continuing to support innovation in the crypto landscape."

Tether said it will continue to support protocols and chains that the community finds useful. The company's executives encouraged users to expand their USDT options.

However, Tether did decide to stop minting stablecoins on EOS and Algorand starting today, June 24, 2024.

The company will continue to exchange stablecoins on these networks as standard for the next 12 months. Further changes may be announced at that time. "We assure the community that the transition will be executed carefully and with minimal disruption. Our priority remains to ensure a seamless user experience and we are committed to facilitating a seamless transition."

Cardano weekly report reveals exclusive developments

Input Output Hong Kong, the parent company of the renowned blockchain Cardano, has recently released a new weekly report. The report covers progress on core technologies, smart contracts, wallet services and more. The platform published the report on its X account.

A major achievement of Cardano's accounting team is the implementation of CIP-0069, which extends the functionality of PlutusV3 by making expense data optional and applying a single argument to all scripts. This enhancement allows expense scripts to be used for minting and other purposes. The team also eliminated critical bugs related to script execution and delegation.

The platform announced that its Lace team is about to launch version 1.13. This includes exclusive functionality as well as some important bug fixes. The Plutus team introduced version 1.30.0.0 to work with Plutus libraries. This release includes the implementation of CIP-0122. CIP-0122 denotes a unique value type that receives data support. The Cardano education team is reportedly focused on organizing lectures for the Cardano Developer course.

The market capitalization of the top 10 tokens in the TON network reached $20 billion

The Open Network (TON) has become a prominent player in the blockchain space, attracting huge attention for its own token Toncoin (formerly known as GRAM), its gaming ecosystem, and various tokens issued by TON. Toncoin now has a market capitalization of $18.71 billion.

In addition, nine other cryptoassets issued on the TON network have a market value of more than $19 million. Below Toncoin is Notcoin (NOT) with a capitalization of $1.5 billion and Resistance dog (REDO) with a value of $93.06 million. NOT is a game in which you can earn money, and REDO is a meme token.

Next to REDO is a dog-themed token created by Telegram founder Pavel Durov. Next on the list is Jetton games (JETTON) with a valuation of $47.1 million. JETTON is associated with a cross-platform gaming solution where these cryptoassets can be earned, exchanged and used for in-game purchases.

Shrapnel (SHRAP), associated with a blockchain-based first-person shooter, has a market value of $34.61 million. Punkcity (PUNK), intended for use in the Punkcity decentralized gaming ecosystem, has increased its value to $33.03 million.

Other tokens include ston (STON) with $31.86 million, Hypergpt (HGPT) with $23.52 million, and Gamee (GMEE) with $21.47 million. Rounding out the top ten is the Ton Fish (FISH) memcoin with a market capitalization of $19.24 million. Together, these ten tokens have a total value of $20.51 billion.

The next five tokens issued on TON have market capitalizations ranging from $1 million to $5.67 million. In addition, four tokens including BURN, TOGE, PET and SHIP have reached the six-digit capitalization range. Moreover, TON has $489 million in Tether (USDT) circulating, making the blockchain the sixth largest network under Omni, which holds the largest amount of USDT.

Ether traders buy $4k worth of calls in anticipation of a record high

-- TON buying activity was seen on $4,000 worth of ether calls expiring in September.
-- Bullish Flow is in line with expectations of increased volatility.

Catching a falling knife is risky, but some Crypto options traders seem to be doing just that, betting on a bullish outcome in a falling market.

According to CoinDesk , Ethereum's own ether token ` ETH`, the second largest Cryptocurrency by market value, fell more than 5% to $3350 in ONE week. The decline followed rumors that ether ETFs could begin trading in the U.S. next month, and is consistent with weakness in market leader Bitcoin and other alternative cryptocurrencies.

Nevertheless, according to Amberdata, some traders are buying a large number of call options on ether expiring in September at the $4,000 strike level on Crypto Deribit.

A call option is a derivative contract that gives the holder the right to buy an underlying asset at a specified price within a predetermined period of time. When traders buy call options, they do so with the expectation that the price of the underlying asset will rise above the strike price, which in this case is $4,000, before the option expires.

"Looking at the block flows this week, we see a TON of buying activity on September $4,000 calls," said Greg Magadini, director of derivatives at Amberdata, adding that this is a sign that traders are betting that "if ETH rises above $4,000," said Greg Magadini, director of derivatives at Amberdata. we're likely to test and break new all-time highs."

Block trades are large orders that are usually privately negotiated between two parties and listed on an exchange. They are usually favored by institutional investors, hedge funds and large market participants.

Ether, BTC in 2015, set a record price of over $4,800 as of November 2021. the likelihood of ETH getting a spot ETF listing in the US

The U.S. Securities and Exchange Commission (SEC) has since paved the way for the approval of a spot ether ETF and dropped its investigation into Ethereum 2.0, removing significant regulatory uncertainty from the market. Bloomberg ETF analyst Eric Balchunas now expects ether ETFs to begin trading in the U.S. on July 2.

Perhaps traders buying $4,000 calls are expecting fireworks once the ETFs go live. The bullish Flow is consistent with expectations of increased volatility in the ether market. However, some observers, including JPMorgan, T believe the enthusiasm.

Cryptoblogger announced an investigation against Solana

The Solana project is being investigated and soon this high-profile case will become known. This information was published on his X (formerly Twitter) by a cryptoblogger under the pseudonym Crypto Bitlord, whose audience has more than 327,000 subscribers.

"There are rumors that Solana is under investigation. [...] All of this has been brewing for weeks and couldn't have come at a worse time. If what we've heard is true, start praying for Solana," Crypto Bitlord wrote.

He added that it's sad when people lose money on something they don't understand.

Note that at the time of writing, the Solana (SOL) coin is trading near the $126 mark.

Infrared startup has raised funds from Binance Labs

Liquidity betting protocol developers Berachain of Infrared Finance have raised an undisclosed amount of cash from Binance Labs. The company invested in the crypto startup as part of a strategic funding round, as co-founder and CEO Raito Behar told The Block. Infrared is Binance Labs' first investment in the Berachain ecosystem.

The strategic funding round is structured as a simple agreement for future tokens or SAFT. Earlier this year, Infrared also raised $2.5 million in an initial investment round from NGC Ventures, Tribe Capital, Shima Capital, Signum Capital and others. Behar declined to comment on the total amount of capital raised and did not give a valuation for the business.

Infrared was founded last year as one of the debut projects of Berachain Foundation's Build-A-Bera program. As a reminder, Berachain is a Level 1 (L1) blockchain compatible with the Ethereum Virtual Machine (EVM). Its developers have yet to launch the product's core network. According to The Block Pro funding dashboard, the startup has received $112 million in funding and is backed by prominent investors including Brevan Howard, Polychain Capital and Framework Ventures .

Infrared is Berachain's liquid betting protocol that creates two assets - iBGT and iBERA - for key cryptocurrencies in the Berachain ecosystem: the BGT (governance token) and BERA (gas token), respectively. According to Behar, Infrared currently has no direct competitors in the sector. However, "the company wants to grow in a healthy market environment and is driving innovation."

Infrared's protocol is under development and will later be launched on the Berachain V2 test network. "This will allow us to gather user feedback and improve the protocol before launching the main network," he added. Infrared will also launch its own IRED token, the startup executive assured.

Mt.Gox will start paying compensation in July. BTC price fell below $62,000

The trustee of the Mt.Gox exchange, which went bankrupt in 2014, announced plans to begin paying compensation in bitcoins, Bitcoin Cash and cash in early July.

The decision comes amid the completion of the preparatory process - providing technical support, ensuring compliance with regulations in each country and coordinating transfers with each cryptocurrency exchange.

Payments will begin on a first-come, first-served basis to platforms that have confirmed the necessary information.

"Please be patient until specific payments are made," the statement said.

The market reacted nervously to the publication of the news. Bitcoin failed the $62,000 level on increased volumes. In 15 minutes, the decline in the moment exceeded 2.5%.

The decline in the value of digital gold entailed a fall in quotes of other cryptocurrencies. Hourly rates ranged from 1.7% to 3.4%, according to CoinGecko.

In May 2024, Mt.Gox began actively moving bitcoins for the first time in five years.

In January, the exchange confirmed creditor addresses for compensation. In April, some of the platform's customers reported receiving payments in fiat.

Mt.Gox is expected to distribute assets by October 31, 2024.

Experts from K33 Research concluded that the prospect of a sell-off of bitcoin exchanges is able to "scare the market" and put pressure on the price.

Recall, the process of civil rehabilitation for Mt.Gox users started in June 2018. In 2021, the Tokyo court approved the platform's compensation plan.

The trustee submitted a reimbursement proposal in December 2020. In January 2021, the details of the plan became known, and in February, the court approved it for a subsequent vote.

It started on May 31 and ended on October 20. The reimbursement initiative was supported by about 83% of the exchange's users.