What happened this week in the world of blockchain and cryptocurrencies? The most relevant local and international events, along with engaging background reports, concisely summarized in the weekly review.
Selected articles of the week:
Six months after the approval of the first spot-based Bitcoin ETFs in the US, it is the turn of the second-largest cryptocurrency, Ethereum (ETH). The Securities and Exchange Commission (SEC) gave the products the green light this week. Similar to the Bitcoin ETFs, the funds saw massive outflows due to the conversion of the Grayscale trust. How much appetite there is for alternative digital assets will become clear over the coming weeks.
Half a year after the SEC approved the first spot-based Bitcoin ETFs, products for Ethereum (ETH) are now launching.
End of the Mt. Gox era
The cryptocurrency exchange Mt Gox was once the dominant platform for trading cryptocurrencies. It was founded in 2010 as the first of its kind and handled over 70% of Bitcoin trading at its peak. Its sudden insolvency filing in 2014 sent shockwaves through the then burgeoning crypto industry. The exchange was able to save around 140,000 Bitcoin (BTC) – currently USD 9.4 billion. More than ten years later, the insolvency administrator finally made the first payouts to customers. The partner exchanges Kraken and Bitstamp have already paid out more than half of the first tranche (around USD 4 billion). The repayments have not yet had the expected impact on the price of Bitcoin.
The insolvent crypto exchange Mt. Gox has paid out more than half of the first tranche of $9.4 billion in Bitcoin to former customers. No effect on the Bitcoin price was observed.
Major Bitcoin announcement?
This weekend, the world’s largest Bitcoin conference is taking place in Nashville, Tennessee. The conference spans three days and features an impressive line-up of attendees, including politicians, financial experts, founders and technical experts. Also in attendance are Elon Musk and Donald Trump. Some market participants expect the latter to announce the inclusion of Bitcoin in a state’s strategic reserves.
Today marks the beginning of the world’s largest Bitcoin conference in Nashville, Tennessee. The conference…
Another Trump collection
In 2022, presidential candidate Donald Trump issued his own NFT collection for the first time. Due to the high demand, the entrepreneur made millions with it. And other collections that followed in the years that followed enjoyed similar success. There are now three different collections – and the next one is already planned, says Trump in an interview. A look at his strategy.
Donald Trump announced his fourth NFT collection after making millions from the first sales, despite mixed market reception and criticism.
Blockchain in the automotive industry
In addition: Blockchain technology has made remarkable progress in recent years and has found applications in various areas such as finance, entertainment and supply chains. A subsidiary of automotive giant Toyota is now exploring its application in mobility. Public blockchains that automatically share status messages with a significant number of people are to form the basis of the experiment.
A subsidiary of the automotive giant Toyota – Toyota Blockchain Lab – is exploring blockchain applications in the mobility sector.
