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Mt. Gox Creditors Refute Rumours That It Will Offload 137,000 BTC


Daily Market Wrap

  • Crypto market cap: 0.98 trillion, down 0.85%

  • BTC price stands at USD 20,176, down 0.66%

  • ETH price stands at USD 1,568, down 1.22%

  • Top gainer: UNUS SED LEO (LEO), up 7.77%

  • Top loser: Helium (HNT), down 6.98%


News of the Day


Mt. Gox creditors refute rumours that the exchange will offload 137,000 BTC into the market

Why it matters:

  • Mt. Gox creditors dismiss rumours of dumping a massive amount of 137,000 BTC on the market, highlighting that the defunct exchange’s repayment system is still not yet live

  • Eric Wall, a self-proclaimed Mt. Gox creditor, and others assured that Mt. Gox will not be releasing the Bitcoin, and will delay the distribution once again

  • In July, the appointed trustee to handle the rehabilitation plan for Mt. Gox confirmed that the exchange is working on paying back its creditors


Crypto Daily Spotlight


CEO of Binance CZ criticises the recently popularised ‘free-to-own’ GameFi model.

Brief introduction: DigiDaigaku is a collection of 2022 unique characters developed by Limit Break, a Web3 gaming startup focused on building massively multiplayer online (MMO) games. It raised $200 million over two funding rounds on August 29, 2022. It employs a “free-to-own” model as it plans to give away its NFTs for free.

Why it matters:

  • The Binance CEO Changpeng tweeted on Tuesday that the creation of a novel “free-to-own” business model in the GameFi space is high risk

  • Ryan Foo, a game economist at Delphi Digital, says that Limit Break did a free stealth mint for its NFT collection with a 10% transaction fee

  • On Monday, the floor price of Limit Break’s DigiDaigaku rose to 15.67 ETH after news emerged that its parent company raised $200 million across two funding rounds


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