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Mt. Gox To Distribute Bitcoin ($BTC) And Bitcoin Cash ($BCH) Repayments In July

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Defunct cryptocurrency exchange Mt. Gox has announced that it will begin distributing $9 billion in Bitcoin (BTC) and Bitcoin Cash (BCH) to its creditors starting in July 2024. This announcement comes after nearly a decade-long wait following the exchange’s collapse in 2014 due to a major hack.

Background:

  • Mt. Gox Hack (2014): Once the world’s leading Bitcoin exchange, handling over 70% of all Bitcoin transactions, Mt. Gox was hacked in early 2014, leading to the loss of 740,000 BTC, valued at approximately $15 billion today.
  • Creditors’ Wait: Creditors have been awaiting compensation for nearly ten years. Various legal and logistical challenges have delayed repayments multiple times.

Announcement Details:

  • Repayment Plan: In a notice by Mt. Gox Rehabilitation Trustee Nobuaki Kobayashi, the exchange confirmed that it will start the repayment process in July 2024.
  • Preparation: The notice highlighted efforts to ensure safe and compliant repayments, including technical preparations, regulatory compliance, and arrangements with cryptocurrency exchanges.

Market Reaction:

  • Bitcoin Price Drop: Following the announcement, Bitcoin’s price fell over 5%, dipping to $61,043.
  • Bitcoin Cash Impact: BCH also experienced a decline, dropping 9% to $352.86.
  • Investor Concerns: The market anticipates selling pressure as early Mt. Gox investors receive their repayments, which have significantly appreciated since their initial investments.

Future Outlook:

  • Due Diligence: The repayments will be subject to rigorous due diligence and safety measures to protect creditors’ interests.
  • Repayment Deadline: A Tokyo court set a deadline of October 2024 for the completion of the repayment plan.

The commencement of repayments marks a significant milestone in the long-running Mt. Gox saga. While it brings relief to creditors, the potential influx of Bitcoin and Bitcoin Cash into the market could influence prices and trading dynamics in the coming months.

Source: cryptodaily.co.uk

The post Mt. Gox To Distribute Bitcoin ($BTC) And Bitcoin Cash ($BCH) Repayments In July appeared first on HIPTHER Alerts.

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India Electronic Contract Services Market to Worth Over US$ 624.33 Million By 2033 | eSignature Demand Among Financial Institutes to Remain High Says Astute Analytica

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UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System

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The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.

Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.

“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”

ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.

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“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”

The post UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System appeared first on News, Events, Advertising Options.

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Bybit Supports Wildlife Conservation Through Sea Turtle Adoption Initiative with Subsum

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