Bitcoin Circles $9,500, Former Mt.Gox CEO Must Face Lawsuit And Bitcoin Whale Moves Crypto Fortune — The Crypto2Cash Chronicle
Your daily update on interesting, important and market moving crypto news. Summarized by the Crypto2Cash team
Bitcoin Circles $9,500
Bitcoin has been circling the $9,500 mark for the last 3 days, after it’s price dropped by almost $500 on early saturday. The largest cryptocurrency has recently finished the second quarter of the year, up by a whopping 175 percent, with it’s price going from $4,125 to $11,363. Since then, the price slowly retraced and Bitcoin wasn’t able to hold the high levels. Most top 20 Alt-coins were in the red today, often down between 1 and 2.5%. Chainlink, a Blockchain data project that has recently seen a lot of hype return, was the worst performer of the day, being down by over 7 percent.
Bitcoin Whale Moves Crypto Fortune
An unknown Bitcoin holder, most likely one of the large crypto exchanges, moved an incredible amount of $468 million in Bitcoin yesterday. This was not the first time such a large amount was moved, but what is much more interesting, is the fee the sender paid for the total transaction. This shows the advantage the Bitcoin network has opposed to traditional finance, where transactions of this size often come with a fee of at least 1 percent, up to almost 5 percent.
Former Mt.Gox Ceo Must Face Lawsuit
A Philadelphia federal judge has declined to dismiss the sentence of Mark Kapeles, French Citizen and Ex-Ceo of defunct crypto exchange Mt.Gox. Kapeles was found guilty of embezzlement and messing with user data, earlier this year. Kapeles argued that the Philadelphia court did not have jurisdiction over him in the class action lawsuit, but due to the fact that Mt.Gox had thousand of Philadelphia based customers, this argument was rejected.
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