Mt. Gox Creditors Dispel Bitcoin Dump Rumors – August 29

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $20,301

Bitcoin price has reclaimed the $20,000 mark to begin the week, following some rocky price performance over the weekend.

Top-20 altcoins have has mixed performance over the last 24 hours, as Ethereum gains 3%, BNB rises 1% and XRP falls 2%.

Top Stories for August 29, 2022 πŸ”₯

πŸ‘‰ Mt. Gox Creditors Dispel Bitcoin Dump Rumors

Creditors of defunct crypto exchange Mt. Gox have dispelled rumors about an upcoming Bitcoin dump – as some claimed there would be 137,000 BTC liquidated on the open market.

Eric Wall, one of the creditors, confirmed that the exchange has not yet completed the infrastructure needed to begin paying back its customers. He also believes that payments should be made in various instalments, rather than all at once and affecting markets.

Mt. Gox has not yet provided a timeline detailing the repayment process, with a second creditor confirming they are not yet close to commencing.

πŸ‘‰ Reponses To Biden Executive Order On Crypto Due Next Week

The majority of agency responses to the Biden Executive Order on crypto are due next week, with the 120 day due date falling on September 5th.

Seven reports from agencies are expected on that date, with specific input required from the Treasury, Office of Science and Technology, Justice Department, Justice Department, Commerce department and others.

The responses are expected to have a significant impact on the future of crypto-related policy in the country.

πŸ‘‰ Report Claims Avalanche Weaponized Litigation Against Rivals

A report from self-proclaimed whistleblower “Crypto Leaks” claims that the company behind the Avalanche blockchain used lawyers to collect the confidential information of rivals and trap them under class-action lawsuits.

According the report, the scheme attempted to hurt competitors, as well as use them as decoys to draw regulator attention towards them and away from Avalanche company Ava Labs.