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- Bitcoin drops below US$60,000 as Mt. Gox repayment looms:
Bitcoin fell below the US$60,000 mark for the first time since early May, according to CoinGecko data, as Mt. Gox prepares to disburse funds from creditors.
On Monday, the Mt. Gox trustee announced that it will start repaying creditors next week, a move that could introduce more selling pressure and destabilize the market further.
The unfolding of the Mt. Gox saga, a decade-long overhang on the cryptocurrency market, is a critical development as the exchange begins repaying its creditors with over US$9.4 billion in Bitcoin owed to around 127,000 creditors.
The distribution of such a substantial amount could lead to increased market volatility.
Additionally, the recent sale of US$325 million worth of Bitcoin by German authorities, part of nearly US$3 billion in their possession, adds to the current selling pressure.
Data from CoinGlass shows that over US$335 million were liquidated in the 24 hours leading up to 1:30 p.m. ET.
Of that total, almost US$300 million came from long positions.
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- Ethereum
Ethereum is a decentralized open-source blockchain platform that people can use to build public blockchain applications. Ethereum Enterprise is designed for business use cases.
- Nvidia set to overtake Apple as world's second-most valuable company:
Nvidia could soon surpass Apple to become the world's second-most valuable company, as the biggest beneficiary of the surge in adoption of AI applications takes on the iPhone maker that has been the largest Wall Street firm by market value for years.
The reliance of virtually all artificial intelligence applications such as OpenAI's ChatGPT on Nvidia's (NVDA.O), opens new tab high-end chips has helped the stock nearly triple in value over the past year to $ 2.68 trillion.
- The Bitcoin Halving Is Done. 2 Cryptocurrencies to Buy Now.
The much-anticipated Bitcoin (CRYPTO: BTC) halving has come and gone without the fireworks some expected. Prices have barely budged since April 19, 2024, but don't let that fool you. The long-term effects of Bitcoin halvings are well-documented, often leading to substantial price increases in the following months -- but the surge never comes right away.
- Biden Vetoes Congressional Bid to Void SEC Crypto GuidancePresident:
Joe Biden vetoed a congressional resolution that would strike down US Securities and Exchange Commission guidance that the crypto industry says has stymied its ability to work with banks.
My Administration is eager to work with the Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital assets and payment innovation and help reinforce United States leadership in the global financial system,” Biden said.
- According to recent data, May has set new records for milestones within the Bitcoin network. Following the record-breaking number of transactions confirmed on April 23, four of the top five days with the highest transaction counts settled on the Bitcoin blockchain occurred in May.
- Life is a beautiful journey, full of ups and downs, twists and turns. It's a canvas of moments, painted with vibrant colors of joy, love, and laughter. Every sunrise brings new hope, every smile a chance to start anew. Life's beauty lies in its unpredictability, its ability to surprise us with serendipitous moments and unforgettable experiences. So, let's embrace its beauty, cherish its simplicity, and make the most of every moment. For life is a precious gift, and every breath a reminder to live, love, and laugh.