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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

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

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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