Mt. Gox Repayment Process Begins, Targeting $9B Distribution to Creditors

The long-awaited repayment process for the creditors of the defunct crypto exchange Mt. Gox has commenced, with repayments in Bitcoin and Bitcoin Cash scheduled.

The long-awaited repayment process for the creditors of the defunct crypto exchange Mt. Gox has finally begun, with repayments in Bitcoin and Bitcoin Cash scheduled to be made.

The development comes after the rehabilitation plan was approved by a majority of Mt. Gox’s creditors in November 2021. The trustee, Nobuaki Kobayashi, had announced that eligible claimants would start receiving compensation after enduring multiple delays since the exchange's collapse in 2014.

The balance to be repaid stands at a significant $9 billion, which includes the Bitcoin ( BTC ) $56,848 and Bitcoin Cash ( BCH ) $336 , as well as additional funds held by the trustee.

BTC

$56,848

BCH

$336

North Carolina’s CBDC ban bill vetoed by governor

North Carolina Governor Roy Cooper has vetoed a bill that banned the use of United States Federal Reserve-issued central bank digital currencies (CBDCs) within the state.

The proposed legislation, which garnered attention for its potential to set a precedent for other states, was ultimately rejected by the governor, who stated that it would hamper innovation and the state’s economic interests.

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The vetoed bill aimed to restrict the use of CBDCs, arguing that they could lead to a concentration of power in central authorities and pose risks to consumer privacy.

Despite the bill’s near-unanimous support in the state’s House of Representatives and Senate, Cooper stated the bill was too “premature, vague, and reactionary.”

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New York Times AI lawsuit twist: OpenAI demands article sources

OpenAI, the AI research lab behind ChatGPT, has filed court documents in the ongoing lawsuit demanding that The New York Times reveal its sources.

The NYT alleged that OpenAI used its articles to train AI models without permission or compensation.

The official disclosure request to the court escalates the case as OpenAI’s legal team argues that the sources are essential for establishing the veracity and context of the publishers’ claims.

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Former US solicitor general claims regulators want to “debank” crypto

Custodia Bank’s ongoing battle with federal regulators took a new turn this week after the crypto-native bank filed an appeal to the U.S. Supreme Court.

Donald Verrilli, a former U.S. solicitor general from 2011 to 2016, claimed that federal regulators were engaged in “aggressive, coordinated efforts to ‘debank’ the digital asset industry.”

The bank’s move follows a series of setbacks in its attempts to gain a Master Account with the Federal Reserve, which would allow it to offer a full suite of financial services.