🤯 MT. Gox Finally Pays!

Crypto Rand

6 min read4 days ago

Let’s Dive Into It!

Happy Monday dear subscribers! In today’s Newsletter, MT.Gox finaly pays!

In today’s bulletin, we are covering:

Surfing the Market, with analysis about Big Caps Index and the AI index
Don’t miss the News about MT.Gox repayments and The Winklevoss paid too much!
Notcoin is under the spotlight.
A short article about Reactive vs Proactive
Our selection of the best Gems on X

The market continues struggling and lacking strength to push for a reversal. Taking as example the Big Caps Index we can see how it’s again approaching the key horizontal support after the rejection on the local downtrend. We are approaching a key squeeze range here. It’s really important to set a new higher low here in order to maintain the macrobullish structure:

The AI Index is back to the early 2024 levels. Super important support here too. This was a key bounce support back in Jan and Feb.

For now struggling under the main downtrend resistance, needs a breakout here to trigger reversal:

Mt. Gox to Begin Bitcoin and Bitcoin Cash Repayments in July 2024

Defunct bitcoin exchange Mt. Gox will start distributing bitcoin and bitcoin cash repayments from July 2024.

Mt. Gox to begin repayments in Bitcoin and Bitcoin Cash from July 2024, per Trustee Nobuaki Kobayashi.
Preparations have been made to ensure safe, reliable, and compliant repayment arrangements.
Repayments will commence in the order of cryptocurrency exchanges with confirmed information.
This follows updates in the rehabilitation claims system and movement of $2.9 billion in Bitcoin in May.
Mt. Gox was the largest Bitcoin exchange until a 2014 security breach resulted in the loss of 850,000 Bitcoin.
Creditors to be reimbursed with 142,000 Bitcoin, 143,000 Bitcoin Cash, and 69 billion Japanese yen by October 2024.

Rehabilitation Trustee Nobuaki Kobayashi announced the commencement of repayments following preparations to ensure safe, reliable, and compliant arrangements.

Winklevoss Twins’ Bitcoin Donations to Trump Exceed Legal Limits and Are Refunded

The Winklevoss twins, founders of Gemini crypto exchange, had their donations to Donald Trump’s election campaign refunded after their Bitcoin contributions exceeded the legal limit.

Winklevoss twins had their excess Bitcoin donations to Trump’s campaign refunded.
Each twin’s $2 million donation exceeded the federal legal limit of $844,600 per individual.
The refund details, whether in Bitcoin or cash equivalent, remain unclear.
Donations were split among Trump’s campaign, a political action committee, the Republican National Committee, and 42 state committees.
The Trump campaign’s acceptance of Bitcoin signals a closer relationship with the crypto industry.
The Winklevoss twins attended a $300,000 per person fundraiser for Trump and donated $5 million to a political action committee supporting pro-crypto candidates.
Gemini users faced issues with the Gemini Earn program, leading to settlements and lawsuits involving Gemini and Genesis Global.

Each twin announced a $2 million Bitcoin donation, surpassing the $844,600 maximum allowed per individual.

Notcoin

This week we have under the spotlight Notcoin, the “probably nothing” project.

The project falls into the GameFi narrative and has been developed for the TON blockchain (Telegram ecosystem).

These are some key features and functionalities of the Notcoin game:

Play-to-Earn Model: Earn $NOT tokens by simply tapping a coin image in the game.
Integration: Leveraging the TON blockchain for fast and secure transactions.
Power-ups & Boosts: Enhance earnings and energy per tap through various in-game boosts and power-ups.
Social & Community Features: Form squads, invite friends, and participate in community activities to impact the player’s earnings.
Quests & Leaderboards: Incentivize players to engage more by offering additional rewards.

Notcoin serves as an entry-level gateway to the TON blockchain and digital currency markets for beginners for its simplicity and promise of potential monetary rewards, according to the latest released data by the project, the formula attracted over 35 million users, with a peak of six million daily active users.

The ultimate goal for the project is to eventually become a recognized cryptocurrency on the TON blockchain, to facilitate the development and adoption of decentralised applications (dApps) where developers can use it as a means of incentivizing users to interact with their dApps.

Recently it transcended its in-game origins and evolved into a tradable token listed on various cryptocurrency exchanges. Notcoin is a community driven project that doesn’t have investors, private rounds or allocation; has no owner and there is no new supply that can be added.

The $NOT token currently has a market cap of $1.38 billion with a total supply of 102.7 billion tokens. Of this, 78% (approximately 80.2 billion tokens) is allocated to early miners and voucher holders, ensuring the community holds a significant portion of tokens. The remaining 22% is reserved for new users, traders, and future developmental phases.

Reactive vs Proactive

In trading, everyone dreams of finding the formula to beat the market. Spoiler alert: it doesn’t exist. However, there are different approaches to trading. Join me as we discover what type of investors you are.

One thing is certain in the market: no one knows the future. As the saying goes, no one knows the candle on the right.

There are two distinct styles when it comes to trading, often defined by the trader’s personality, risk aversion, and lifestyle (yes, you read that right).

On one hand, we have the REACTIVE trader (or investor). This type reacts to events, waiting for them to happen before making a decision.

This style tends to seek several (if not many) confirmations or checks before making an investment decision. This adds layers of security to the decision but at the expense of timing, potentially missing out on opportunities by acting too late.

Reactive investors are the most conservative, needing to be completely sure before making a decision.

On the other hand, there are PROACTIVE investors. These are the ones who anticipate events or seek to participate in them in their early stages.

Clearly, this style is more aggressive. It doesn’t require too many confirmations (but still some, otherwise it would just be a random bet). The risks are higher, but so are the returns.

Proactive investors are bold, constantly seeking to be first or among the first in an opportunity to maximize returns.

While there are exceptions, proactive investors tend to be younger, with an appetite for risk. Reactive investors are often older, perhaps with more capital, and do not need to take as many risks.

In the end, both styles coexist in the market, and the differences in potential returns balance out with the associated risks. Therefore, neither is better than the other. They are simply two ways of trying to beat the market.