8 Congressional Representatives and 1 US Senator are urging President Biden not to veto the bill that would allow financial companies to store Bitcoin and crypto (repealing SAB 121).
President Biden has 10 days, excluding Sundays and holidays, to make a veto or approval decision, with a June 3 deadline.
Binance Founder Changpeng Zhao Surrenders to Low-Security Federal Prison in California Changpeng Zhao, the founder of Binance, has surrendered to a low-security federal prison in Lompoc, California. This follows his sentencing to four months in prison for violating anti-money laundering laws. The decision is part of a broader legal settlement with U.S. authorities, which included significant fines for both Zhao and Binance. Stay tuned for more updates on this development.binance . binance #ChangpengZhao #CryptoMENA binance #ChangpengZhao #Crypto_JobsđŻ
Wall Street called for Biden not to veto the Congressional resolution rejecting the SEC's crypto policy. Wall Street called for Biden not to veto the Congressional resolution rejecting the SEC's crypto policy. Wallstreet #Biden #sec $BTC
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Defunct Bitcoin exchange Mt. Gox transfers $7.2 billion in Bitcoin. Massive transfer raises questions amid ongoing creditor repayment process. As of writing, Bitcoin is trading at a daily loss of 1.53% and a weekly decline of 4.87%. Blockchain tracker Whale Alert reported that on the morning of May 28, cryptocurrency wallets controlled by the now-defunct Mt. Gox transferred approximately 107,547 BTC (equivalent to 7.2 billion USD) to an unknown wallet. Whale Alertâs initial report detailed a transfer of 3,999 Bitcoins (worth roughly $277 million) from Mt. Gox to an unknown wallet. This move sparked significant interest within the crypto community, especially considering Mt. Goxâs ongoing efforts to reimburse creditors affected by its 2014 collapse. For those uninitiated, Mt. Gox was a Japanese-based crypto exchange that collapsed in 2014. đš đš đš đš đš đš đš đš đš đš 3,999 #BTC (277,654,876 USD) transferred from #MtGox to unknown wallethttps://t.co/hIjDOB73kC â Whale Alert (@whale_alert) May 28, 2024 Once one of the largest Bitcoin trading exchanges, Mt. Gox was forced to close after a major hack that affected over 24,000 customers and resulted in the loss of hundreds of millions of dollars in cryptocurrencies and cash. Repayment procedures, initiated in late 2023 via PayPal, saw many clients receive compensation in Japanese Yen. However, according to an official letter from Mt. Gox trustee Nobuaki Kobayashi, the deadline for full repayment has been extended to October 31, 2024. Whale Alert subsequently reported several other large transfers from Mt. Gox, including one of 8,239 BTC (worth $565 million), another of 14,057 BTC (worth $966 million), and yet another of 16,589 BTC (worth $1.1 billion).Despite these massive transfers, blockchain intelligence company Arkham Intelligence reports that Mt. Gox still holds 137,892 Bitcoins (worth over $9 billion). As of this writing, Bitcoin is trading at $67,848, reflecting a slight daily loss of 1.53% and a weekly decline of 4.87%. The post Mt. Gox Makes Surprise Return with Massive Bitcoin Dump,