China News by Thebittimes.Com

Bankrupt crypto exchange Mt. Gox says its rehabilitation trustee will start processing repayment s in bitcoin (BTC) and bitcoin cash (BCH) next month . This is according to a note issued by the exchange on Monday. In the note, Mt. Gox asks users to “wait for a while until the repayments are made” and says it has “taken time to ensure safe and reliable repayment to creditors, including technical remedies for safe repayments, compliance with financial regulations in each country, and discussion of repayment arrangements with the cryptocurrency exchanges.” Mt. Gox collapsed in February 2014 losing 850,000 bitcoins and affecting around 240,000 users . In an official statement last month, it stated that it was preparing to repay a portion of cryptocurrency rehabilitation claims either through the sale or direct transfer of crypto, whichever the creditor chooses. Mt. Gox hasn’t sold any of its 140,000 bitcoin but it’s planning to Read more: Mt. Gox repays some creditors, emails o...

Binance’s lost spot trading volume has been reportedly distributed among exchanges like HTX (formerly Huobi), Bybit and DigiFinex. Major global cryptocurrency exchange Binance has reportedly continued to lose its market share amid ongoing regulatory issues in the United States. Binance’s spot market share fell for a seventh consecutive month in September 2023, Bloomberg reported on Oct. 5, citing analysis from cryptocurrency data provider CCData According to the report, Binance’s spot market share dropped from 38.5% in August to 34.3% in September. In January 2023, Binance’s spot market share accounted for as much as 55.2%. Binance's global spot market share percentage chart year-to-date. Source: Bloomberg Apart from the spot market, Binance has also been losing market share in the derivatives market. According to the report, Binance’s derivatives market share tumbled from 53.5% in August to 51.5% in September. In January, the exchange’s market dominance in the derivatives m...

The cryptocurrencies and tokens held in the publicly-known wallets of Tron (TRX) founder Justin Sun have seen their value increase by over 50% over the last month . Data gathered from blockchain analytics platform Arkham Intelligence shows that as of Aug. 19 Sun’s wallets contained $733 million, and as of Sept. 19 the balance increased by just over 50% to $1.1 billion. You might also like: Justin Sun makes huge moves amid insolvency allegations Sun’s current top holding is Wrapped Stacked Ethereum (WSTETH) for a total of under 169,000 tokens worth approximately $315 million. This token represents Ethereum (ETH) stacked to get stacking rewards that has been wrapped with the Lido (LDO) decentralized finance (DeFi) to be liquid. The second top holding is $293 million USDD — Tron’s U.S.-dollar stablecoin, the third one USDJ, another Tron-based stablecoin. This is followed by $139 million of Tron, $39.5 million of Bittorrent (BTT) file-sharing Tron-based ne...