200.000 Ordinal NFT’s on bitcoin, Kraken leaves UAE and Mt. Gox creditors may see their BTC this month

Crypto2Cash
3 min readMar 1, 2023
Photo by Kanchanara on Unsplash

Mt. Gox creditors may finally start seeing their bitcoins this month

Mt. Gox creditors may start seeing their first bitcoin payments this month as the window for repayments is set to open.

Creditors are expected to receive early repayments from March 10 onward, while the deadline for such payments to be completed is September 30, according to a January statement. This is for the first tranche of repayments, including early lump sum payments and intermediate payments, with further amounts set to come later.

While there is no clarity on how much bitcoin will be handed out to creditors during this period, it will be a portion of the exchange’s balance sheet, which totaled 142,000 bitcoin ($3.3 billion today), 143,000 bitcoin cash ($19 million) and 69 billion Yen ($510 million), according to a balance sheet in 2019.

According to two creditors, the balance sheet hasn’t changed much since.

Source: The Block

Bitcoin-based NFT’s cross 200,000 Ordinal inscriptions, Yuga Labs launches Twelvefold collection

On Monday, Feb. 27, 2023, the number of Ordinal inscriptions on the bitcoin blockchain crossed 200,000. In addition to that, Yuga Labs revealed that the team had created a collection of 300 generative ordinal NFTs called Twelvefold.

This is a big name in the industry: they are the creators of the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs). So far, people have inscribed images, videos, text, and software applications to the blockchain. Images are by far the most common, but text inscriptions are also well-liked, and applications are becoming popular as well.

A combination of Taproot and SegWit created a new hype around NFT’s, but this time on top of the bitcoin blockchain instead of Solana of Ethereum. Before it was not easy to embed content into the bitcoin blockchain.

As as result, the average block size increased much over 1 MB and the mempool was filled with this new type of transactions. Inscriptions added 3.6 gigabyte of data to all full nodes, up to today.

Source: Bitcoin.com

Crypto exchange Kraken closes offices in UAE

Problems continue for major digital currency exchange Kraken. After forfeiting its position in Japan, closing its offices there, and letting all employees go in that division, the company has now had to do the same for its Abu Dhabi (located in the United Arab Emirates or UAE) location.

A spokesperson for Kraken has released the following statement:

Kraken regularly reviews its business lines to ensure we’re employing resources globally to best achieve our mission of accelerating the adoption of cryptocurrency.

In addition, the exchange is now also suspending all support for customers — both retail and institutional — in that region of the world. However, while trading is likely to be off limits, clients in the Middle East will still retain access to Kraken’s many other services.

Source: LiveBitcoinNews

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