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Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank.

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Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 2
Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 3

Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank.

by Ryan Weeks
Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 4
Quick Takes
  • The trustee in Mt. Gox’s bankruptcy presides over a trove of 141,686 bitcoins with a market value of over $8.3 billion that is at last nearing redistribution. 
  • Fortress Investment Group and 507 Capital, which have spent years hoovering up unpaid Mt. Gox claims, stand to make huge profits.
  • So too do creditors of the crypto exchanges Bitcoinica and Bitcoin Builder, which used Mt. Gox as a custodian, thanks to massive growth in the price of bitcoin since the infamous hack. 
Crypto exchange FTX is in the process of closing a funding round said to value the company at around $20 billion, three sources familiar with the situation told The Block.

It’s not clear who is leading the round at this stage. A source familiar with the raise, which could be announced in the next month, said it could bring in anywhere from $400 million to $1 billion.

The source added that the fresh capital injection would go towards improving its relationships with large financial services firms and broaden its reach beyond crypto-native market participants.

Last year, FTX made $85 million in fee revenue in 2020, CEO Sam Bankman-Fried told The Block, adding that for 2021, the exchange expects to make $400 million. The projections are made based on FTX’s December fee revenue of $200 million, said Bankman-Fried.

FTX’s funding round, once completed, will join a growing list of big-ticket capital raises for 2021. These include Paxos’s $300 million Series D funding round in April and BlockFi’s $350 million round in March. Both raises gave these firms valuations above $1 billion. This year also saw crypto exchange Coinbase go public via a direct listing on Nasdaq with a first-day valuation above $80 billion.

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Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 5
You Should Know
Crypto lender Celsius increases Bitcoin mining investment to $500 million
Celsius Network has doubled down on its Bitcoin mining investment, adding a further $300 million. In an interview with The Block on Monday, Celsius CEO Alex Mashinsky said that the investment was made to expand its proprietary Bitcoin mining hash rate and power capacity in North America.
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Biden re-nominates Powell as Fed chair, with Brainard as vice chair
Powell, a Republican who began his current term under President Trump, has enjoyed a reputation as a moderate in volatile times. Thanks to that reputation, he has been the presumptive candidate for Biden’s nomination for months. Treasury Secretary Janet Yellen, herself a former Fed chair, praised “[t]he steady leadership of Chair Powell and the Federal Reserve” in a statement alongside the nomination.
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Citigroup appoints new head of digital assets for institutional clients as it eyes up to 100 new hires
American banking giant Citigroup has promoted Puneet Singhvi from head of blockchain and digital assets in the global markets division to lead its institutional clients group (ICG) in the space. Starting his role on December 1, Singhvi will report to Emily Turner, the head of business development for ICG, and will “outline a distinct strategy on where and how ICG should pursue digital asset opportunities” according to a memo shared with The Block. 
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Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 6
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From the Dashboard
Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 7
CryptoPunks, the gold standard PFP project emblematic of Ethereum’s trailblazing NFT ecosystem, recently experienced an unprecedented average sales price spike which dwarfed all preceding numbers. On October 29th, a CryptoPunk was sold for $532M making it the highest CryptoPunk sale ever by a large margin. Read more in The Block Research’s latest piece on the metaverse.
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Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 8
December 1, 2021
The Role of Bitcoin in the Modern Portfolio — Brought to you by iTrust Capital
12:30PM (EST)
Join The Block’s Research Lead George Calle for a look at the evolving role of bitcoin within the modern investment portfolio.

Featuring:
Nate Conrad, Global Head of Asset Management, NYDIG
Noelle Acheson, Head of Market Insights, Genesis
Chris Kuiper, Director of Research, Fidelity Digital Assets
Anthony Bertolino, VP of Growth, iTrust Capital

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Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 9
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SPONSORED POST

Crypto as the New Asset Class under a Regulated Environment

by Huobi Tech
Investing in cryptocurrencies has rapidly gained wide adoption and media attention, with the development of the Metaverse, Non-Fungible Tokens (NFTs), DeFi 2.0 and Web 3.0.
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Regulation
  • The ECB’s new Eurosystem PISA framework will now include oversight for crypto, stablecoins, and electronic money transfers.
  • The United Kingdom financial regulator also wants its staff trained on crypto transaction monitoring and analysis.
  • Jerome Powell seems set to remain at the helm of the Federal Reserve.
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Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 10

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Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank. 11

Crypto102 Thế giới tiền điện tử

Tạp chí tiền điện tử, với đam mê sở thích từ 500 năm trước, hồi còn ở hoa quản sơn, ngộ đã mơ có ngày Bitcoin ra đời, quả đúng vậy, 500 năm sau khi Bitcoin ra đời thì lại phải đeo vòng KIM CÔ nên ngộ mong chư huynh hiểu và đừng có làm liều, sau lưng sự phụ thì được nhé kakaka . Anh em cùng thỉnh kinh nào mở tài khoản Binomo ở đây chứ còn gì nữa.
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