Over $225,000,000 in Crypto Distributed to Hack Victims of Collapsed Exchange Cryptopia
The long-awaited distribution of over $225 million worth of cryptocurrency to victims of the collapsed exchange Cryptopia has finally commenced. According to The Daily Hodl, this significant milestone marks a pivotal moment for more than 10,000 verified account holders who have begun receiving their first distributions. This development comes years after the New Zealand-based crypto firm was hacked in January 2019 and subsequently went into liquidation by May that year.
Grant Thornton's liquidators announced that within just two days, approximately $400 million NZD ($225 million USD) had been returned on-chain to Bitcoin and Dogecoin holders. David Ruscoe from Grant Thornton emphasized the importance of resolving matters swiftly while ensuring compliance with legal rulings regarding digital assets as property during liquidations.
Record-Breaking $1.24 Billion USDC Inflow Hits Spot Exchanges – What This Means for Bitcoin
A massive inflow of stablecoin USDC amounting to $1.24 billion has hit spot exchanges recently, according to an article by Bitcoinist.com. This record-breaking transaction is seen as a potential precursor for increased demand for Bitcoin (BTC), especially amidst recent price volatility where BTC experienced both highs and sharp corrections.
This influx suggests strategic movements by whales preparing for possible rebounds or accumulation phases at current levels. Analysts are closely watching whether these developments will help BTC reclaim its bullish momentum or if further market uncertainties might lead it toward deeper corrections.
Relationship Building Is A Hedge Against Debanking – OKX Exec
The threat posed by Operation Chokepoint 2.0 highlights how crucial relationship-building can be against debanking risks faced globally across industries, including cryptocurrency firms like OKX. Reports by Cointelegraph's Jason Lau emphasize forming strong partnerships with banks alongside key financial stakeholders helps safeguard operations amid regulatory pressures threatening traditional banking access worldwide. These pressures are due largely to political reasons rather than business-related issues alone, as cited frequently among affected entities. For example, Binance Australia received only twelve hours' notice before losing bank support unexpectedly overnight, without any explanation given publicly afterward to either directly involved parties or the wider impacted community.
Sources:
- Over $225,000,000 in Crypto Distributed To Hack Victims of Collapsed Exchange Cryptopia After Years of Waiting
- Record-Breaking $1.24 Billion USDC Inflow Hits Spot Exchanges – What This Means For Bitcoin | Bitcoinist.com
- Relationship building is a hedge against debanking — OKX exec
- Bitcoin Market Leverage and Coinbase Premium: What Recent Data Reveals
- Ripple’s RLUSD launches on global exchanges with some investors paying a premium
- Crypto Battle Looms at SEC: Trump's Team Set to Clash With Gensler's Picks
