Global

On July 31, 2024, Nobuaki Kobayashi, the Rehabilitation Trustee for the defunct Mt. Gox exchange, announced a significant milestone: the completion of repayments to a substantial portion of the creditors. The exchange has successfully returned Bitcoin and Bitcoin Cash to over 17,000 creditors, with the process facilitated through exchanges such as Kraken and Bitstamp.

The cryptocurrency market is experiencing a significant uptick in trading volumes, with projections indicating that the U.S. will spearhead this growth, surpassing $2 trillion in trading activity.

South Korea is implementing a new regulatory measure aimed at cryptocurrency operators in the country. Effective July 19, the Financial Services Commission (FSC) introduced the ‘Virtual Asset User Protection Act,’ which mandates a supervisory fee based on the operating revenue of South Korean crypto exchanges.

Bitbank Inc., a leading Japanese cryptocurrency exchange, is gearing up for a significant milestone by preparing for an initial public offering (IPO) on the Tokyo Stock Exchange (TSE). This move positions Bitbank as the second Japanese crypto exchange to seek a public listing, following Coincheck’s planned merger to go public on Nasdaq.

Spot Ethereum ETFs marked their first positive day since their launch, ending a four-day streak of negative performance. The rebound came after a week of substantial outflows, particularly led by Grayscale’s Ethereum Trust (ETHE), overshadowing the initial success of ETH-based investment products.

Riot Platforms, a major player in the Bitcoin mining industry, reported total revenue of $70 million for the recent quarter, a decrease from the $76.7 million recorded during the same period last year. This decline is largely attributed to the Bitcoin halving event that took place in April.