Mt. Gox Trustee Sell-Off Triggers Another Bitcoin Price Drop to $8,300 1098

Cryptocurrency enthusiasts will have noticed all markets are getting battered. Volatility is an integral part of this industry, but the reason for the current sell-off is triggered by something else entirely. The Mt. Gox trustee is liquidating assets on behalf of the exchange’s victims. Unfortunately, he appears to be selling these coins across regular exchanges and crashing the price.

The Mt Gox Trustee

It is good to see the Mt. Gox debacle finally come to a close. More specifically, the trustee has allocated the funds necessary to repay all victims of this exchange. Thanks to the current Bitcoin price, fewer coins are needed to make this happen. At the same time, selling Bitcoin at the current prices is also problematic. As everyone can see, the price is tanking hard exactly because of this major sell-off.

It appears a total of 40,000 BTC need to be liquidated quickly. That represents a hefty chunk of money, which needs to be bought up by individuals and investors. Selling this amount of Bitcoin on the open market in large batches is not the correct approach. In fact, it is one of the biggest mistakes the Mt. Gox trustee can make. In doing so, this one person is effectively crashing the entire cryptocurrency market.

For anyone holding Bitcoin or altcoins, this is not good news. While everyone wants to put Mt. Gox behind them, this sell-off is not the right way to go. There are plenty of other options to sell this money without disrupting overall prices. Several service providers are even willing to help in this regard. So far, their advice is falling on deaf ears, as the Mt. Gox trustee just does what he thinks is best.

Purposefully Crashing the Bitcoin Price

Even though Kraken offered to aid in the sale, their request has been blatantly ignored. The company runs a dark pool where people can buy and sell large quantities which do not disrupt open market trading prices. Additionally, the funds could easily be sold through an auction and net even more money. For some reason, the Mt. Gox trustee isn’t even entertaining that idea either. It is a very disturbing approach and shows a lack of respect for the cryptocurrency ecosystem as a whole.

Crashing the Bitcoin price like this is completely unacceptable. It is unclear why this approach was taken, although it has all the traits of malicious intent. This is the fastest way to repay Mt. Gox victims.  However, these people have waited years to see their money back, thus a few days or weeks extra won’t make any difference. A proper approach is warranted in this regard, but so far, the damage has been done already.

It will be interesting to see how all of this play out. For now, the Mt. Gox trustee is quickly becoming one of the most disliked individuals in cryptocurrency. His approach leaves a lot to be desired and it appears things are not improving whatsoever. Rumors are flying around how this is a move orchestrated by governments looking to scoop up cheap bitcoins. An interesting thought, but fake news until proven otherwise

Previous ArticleNext Article

Leave a Reply

Sumsub and Elliptic Team Up to Tackle Crypto Financial Crime 2085

Sumsub, a full-cycle verification platform, has announced its integration with Elliptic, the global leader in cryptoasset risk management. This partnership enhances Sumsub’s Crypto Transaction Monitoring and Travel Rule solutions, offering global clients enhanced capabilities to screen cryptocurrency wallets, detect fraud, and assess transaction risks.

Blockchain-related crime, including money laundering and fraud, continues to be a growing concern. According to Sumsub’s Identity Fraud Report 2024, crypto was among the top-5 industries with the highest fraud rates in 2024. Recently, the United States Federal Bureau of Investigation (FBI) created its own crypto token to take down criminals. In light of this, integrating Elliptic’s market-leading analytics into Sumsub’s platform enables firms to protect users, providing a comprehensive view of blockchain transactions to mitigate financial crime.

The integration allows clients, including firms in the blockchain, fintech, and payments sectors, to seamlessly connect existing Elliptic subscriptions to Sumsub’s system via the Bring Your Own Key (BYOK) model. This enables clients to use their own encryption keys to manage and secure their data, ensuring full control over sensitive information while using Sumsub’s compliance and monitoring services. Customers can connect their existing functionality from Elliptic’s platform with Sumsub’s, unifying their workflows around cryptocurrency wallet screenings on one dashboard. Now, Sumsub’s clients can ensure alignment with stringent regulatory requirements, with Elliptic providing the broadest coverage of cryptoassets and blockchains available on the market.

Key benefits of the integration include:

  • Automated workflows for screening crypto wallets and transactions
  • Real-time risk assessments powered by Elliptic’s extensive blockchain data
  • Deeper investigation capabilities, accessible directly through the Elliptic dashboard when required
  • Seamless integration for new and existing clients, eliminating the need for separate workflows or additional systems

“We’re excited to partner with Sumsub to create a stronger shield against financial crime in the crypto industry. As blockchain technology advances, so do the threats it faces, making comprehensive and adaptive tools essential,” said James Smith, co-founder of Elliptic. “By integrating Elliptic’s cutting-edge blockchain analytics with Sumsub’s trusted verification and compliance platform, we’re empowering businesses to proactively address risks, protect their users, and stay ahead of regulatory demands. This integration not only strengthens fraud detection but also fosters greater transparency and trust in the evolving crypto space, helping firms navigate a complex landscape with confidence.”

“This partnership marks a significant step forward for crypto transaction monitoring, as Elliptic is a renowned, leading player in the blockchain analytics space. By integrating its analytics, we can continue to push the boundaries in fighting against financial crime, with the largest global ecosystem of virtual asset service providers (VASPs),” said Ilya Brovin, Chief Growth Officer at Sumsub. “At Sumsub, we are committed to fostering trust in the crypto sector. Together with Elliptic, we can provide powerful tools to streamline compliance, mitigate risks, and stay ahead of emerging threats in the sector.”

To learn more about Sumsub’s Transaction Monitoring and KYC/AML compliance offering for crypto, please visit https://sumsub.com/crypto/.

About Elliptic

Elliptic is the global leader in cryptoasset risk management for crypto businesses, governments, and financial institutions worldwide. Recognized as a WEF Technology Pioneer and backed by investors including J.P. Morgan, Wells Fargo Strategic Capital, SBI Group, and Santander Innoventures, Elliptic has assessed risk on transactions worth several trillion dollars, uncovering activities related to money laundering, terrorist financing, fraud, and other financial crimes. Elliptic is headquartered in London with offices in New York, Singapore, and Tokyo.

About Sumsub

Sumsub is a full-cycle verification and ongoing monitoring platform that secures the whole user journey. With Sumsub’s customizable KYC, KYB, Transaction Monitoring, Fraud Prevention and Travel Rule solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.

Sumsub has over 2,500 clients across the fintech, crypto, transportation, trading, e-commerce and gaming industries including Bitpanda, Wirex, Avis, Bybit, Huobi, Kaizen Gaming, and TransferGo.

Peezy Partners with AlphaKekAI, the AI Meme Generator Used by Based Brett, Retardio, Apu, and Ethereum Wolf! 2608

The Peezy Memecoin ($PEEZY) has announced an exciting partnership with AlphaKekAI, a cutting-edge Telegram bot that allows communities to generate memes powered by artificial intelligence. By aligning itself with the same platform used by top meme tokens like Based Brett, Retardio, Apu, and Ethereum Wolf, $PEEZY is taking a significant step toward empowering its community and enhancing its cultural presence.

AlphaKekAI: A Game-Changing Tool for Meme Communities

AlphaKekAI’s Telegram bot is designed to streamline meme creation by closely aligning the content with the unique mascots and themes of participating projects. By incorporating elements that reflect a token’s branding, the bot produces highly relevant and engaging memes that resonate with the community.

This tool enables community members to actively participate in content creation, fostering a deeper connection to the project. The result is a more inclusive environment where everyone feels involved in shaping the project’s identity. Stronger community engagement often translates to increased visibility and market confidence, which in turn helps bolster the project’s market cap.

Why This Partnership Matters for Peezy

By adopting AlphaKekAI’s technology, Peezy is empowering its community to take a more active role in spreading its message and building its culture. The alignment of the bot’s meme generation capabilities with Peezy’s mascot ensures that every piece of content feels authentic and on-brand, amplifying its appeal both within and outside the community.

This partnership puts Peezy on the same innovative trajectory as projects like Ethereum Wolf and Based Brett, which have successfully leveraged AlphaKekAI’s tools to create vibrant, engaged communities. For Peezy, the collaboration is not just a marketing effort but a meaningful way to build a stronger and more connected base of supporters.

The Future for Peezy

AI-powered tools like AlphaKekAI represent the next evolution in community engagement for meme tokens. By allowing users to actively participate in content creation, Peezy is fostering a sense of ownership and excitement that will help drive its long-term growth.

This partnership signals a bright future for Peezy, one where innovation and inclusion come together to build a thriving, memecoin cult.

Official Peezy Links:
Website: https://peezy.vip
Telegram: https://t.me/peezy
Contract: 0x698b1d54e936b9f772b8f58447194bbc82ec1933

Official AlphaKekAI Links:
Website: https://alphakek.ai
Telegram: https://t.me/alphakek_chat
Contract: 0x8dCE83ECa4af45dbe618Da1779F9Aaca43201084

Stay Updated with NaughtyCrypto: Your Source for Crypto News and Market Trends 2859

24 11 2024 1

NaughtyCrypto News is your gateway to the latest developments in blockchain and cryptocurrency. From market insights to breaking news, we deliver everything you need to stay informed in this dynamic industry.

Why Choose NaughtyCrypto News?


Dive into expert analysis, comprehensive market reports, and exclusive updates—all tailored to help you navigate the ever-evolving crypto landscape.

1. Comprehensive Coverage


From top coins like Ethereum, Binance Coin, and Ripple to emerging projects in DeFi, NFTs, and Web3, we cover the entire ecosystem. You’ll find articles, interviews, and analysis on everything from groundbreaking technological advancements to the latest government regulations.

2. Expert Insights


Our team of seasoned analysts and industry insiders provides in-depth articles and opinion pieces to help you understand complex market dynamics. Whether you’re interested in technical analysis or fundamental reviews, we’ve got you covered.

3. Educational Resources


New to crypto? No problem. NaughtyCrypto offers a robust library of guides, tutorials, and FAQs to help you navigate blockchain technology, cryptocurrency wallets, trading strategies, and more.

4. Community Engagement


Engage with like-minded individuals through our comment sections and forums. Exchange ideas, ask questions, and learn from a community that shares your passion for the future of finance.

Key Features at a Glance

  • Deep-Dive Reports: Exclusive analyses of market trends, including predictions and opportunities.
  • Global Perspective: Stay informed about developments across different regions, including Asia, Europe, and North America.

Why It Matters

The cryptocurrency market never sleeps. It’s global, decentralized, and influenced by a myriad of factors, from Elon Musk’s tweets to international policy decisions. NaughtyCrypto empowers you to stay informed, make educated decisions, and seize opportunities in this dynamic environment.

Your Journey to Crypto Success Starts Here

Whether you’re an investor looking to diversify your portfolio, a tech enthusiast curious about blockchain’s potential, or a trader searching for the next big opportunity, NaughtyCrypto is your one-stop destination for cryptocurrency market news.

Stay informed. Stay connected. Stay ahead. Visit NaughtyCrypto today and take control of your crypto journey!

Dione Protocol Announces DIONE SPARK: A Grants & Accelerator Program to Propel Green Web3 Innovation 3162

Dione Protocol, a pioneering leader at the intersection of blockchain technology and renewable energy, announces the launch of DIONE SPARK, an ambitious Grants & Accelerator Program aimed at accelerating the development of eco-conscious projects in the Web3 ecosystem. This initiative reflects Dione’s steadfast commitment to sustainable technology and innovative solutions in decentralized energy and blockchain applications.

About Dione Protocol

Dione Protocol is setting new standards for sustainable energy solutions in the blockchain space. With a mission to redefine energy production and consumption, Dione offers an ecosystem of products that harness renewable energy to support a greener future. This includes Orion, a decentralized infrastructure powered by AI that validates green energy sources; Odyssey, a renewable-energy-driven Layer 1 blockchain; and Nebra, a peer-to-peer energy marketplace, often called the “Uber for energy,” enabling users to share and trade renewable resources.

As part of its mission, Dione Protocol’s latest program, DIONE SPARK, empowers developers and entrepreneurs to leverage blockchain and decentralized technology for environmental impact.

About the DIONE SPARK Program

DIONE SPARK is designed to fuel the creation of forward-thinking green projects on the Dione Protocol blockchain. With grants, mentorship, and resources, the program is structured to support projects through three distinct categories:

  • Spark Green: Geared towards existing projects that seek to utilize Dione’s co-marketing support and bridge liquidity.
  • Spark Seed: Tailored for both new and established projects that are in early-stage fundraising and looking to leverage Dione’s network for strategic growth.
  • Spark Build: Designed for new projects needing comprehensive fundraising assistance and strategic acceleration.

Each category of the SPARK program provides targeted funding of up to $100,000, alongside direct collaboration with the Dione team, ensuring projects have access to technical guidance, strategic resources, and co-marketing benefits.

Dione’s Vision and Selection Criteria

Dione Protocol prioritizes projects that align with its core mission to drive blockchain innovation for a sustainable future. In selecting participants for DIONE SPARK, the team looks for projects demonstrating:

  • Innovative Use of Renewable Energy: Applications that creatively integrate sustainable energy solutions within the Web3 framework.
  • Scalability: Projects that have the potential for growth within the Dione ecosystem and demonstrate long-term sustainability.
  • Real-World Impact: Solutions that tackle global environmental challenges through decentralized technology.
  • Team Expertise: Teams with proven technical abilities and a clear vision for successful execution.
  • Eco-Friendly DeFi Solutions: Decentralized finance projects that emphasize environmental consciousness.
  • Community Engagement: Initiatives with a strong focus on building and engaging a vibrant, decentralized community.

DIONE SPARK’s First Cohort

Dione Protocol’s first cohort of projects selected for DIONE SPARK represents a groundbreaking mix of Web3 solutions designed to address pressing environmental and infrastructure needs:

  1. Spectre AI: Dione will utilize Spectre’s all-in-one research platform, leveraging advanced AI to enhance insights and operational efficiency across the ecosystem.
  2. OpenVPP: The world’s first open-source registry for Distributed Energy Resources (DERs), facilitating decentralized virtual power plants.
  3. Cosmic Network: A leading decentralized VPN, exploring integration with Dione’s Orion validator for enhanced privacy, all powered by renewable energy.
  4. Mock Capital: Providing trading and transaction management tools, including Discord bots and a web dashboard, for multi-chain ecosystems.
  5. HelloMoon: Building user-adoption tools on the Odyssey Mainnet, integrated with Telegram to facilitate user onboarding.
  6. Zebec Network: Launching a MasterCard linked to the Odyssey blockchain, allowing users to spend directly from the blockchain.
  7. AmaraeXchange: The world’s first clean energy decentralized exchange (DEX) where users can trade carbon credits and offset their carbon footprint.
  8. Hash AI: Innovating AI-powered energy optimizations for crypto mining with Dione’s renewable expertise to enhance energy efficiency.
  9. Arkreen Network: A DePIN Energy project tokenizing renewable energy credits (RECs), aligning with Dione’s clean-energy-powered Layer 1 blockchain.
  10. Polytrade: Partnering to tokenize project finance for renewable generators, innovating in funding for global green energy.
  11. PAW Chain: Building a scalable, secure Web3 tech stack with a vision for decentralized energy advancements.
  12. Router Protocol: Enhancing interoperability by connecting Dione’s Layer 1 blockchain to over 30 EVM and non-EVM chains for seamless cross-chain transactions.

Industry Impact and Leadership Message

Dione Protocol’s commitment to sustainability and technological advancement is evident in its partnerships and its overarching mission to support developers in building a cleaner future through blockchain.

Parth Kedia, Head of Energy at Dione Protocol, emphasized the program’s strategic importance: “Our mission at SPARK is to fuel the brightest minds building at the intersection of Web3 and clean energy. We focus on two critical success pathways: enabling decentralized product innovation for the power and utilities sector, and fostering volume-generating technologies such as AI, DePIN, DeFi, Web3 gaming, and others that will shape our meta-first, clean energy future. Each project selected will join our global community of millions of DIONISTS, tap into our strong KOL network, and ultimately contribute to the value and revenue of our open ecosystem.”

DIONE SPARK aims to ignite a new era in sustainable blockchain technology by bridging the gap between cutting-edge Web3 development and eco-friendly solutions. By empowering developers to build applications that prioritize sustainability, Dione Protocol is not only advancing blockchain innovation but also making significant strides towards a more sustainable global infrastructure.

About Dione Protocol

Dione Protocol merges blockchain with renewable energy solutions, pushing the boundaries of sustainable technology through products like Orion, Odyssey, and Nebra. With a clear focus on green innovation, Dione Protocol envisions a decentralized, eco-friendly future where energy and blockchain technology harmonize to address global environmental challenges.

Montreal-based Blockchain Innovator, IP-House Metafy Announces Partnership With Driver Studios For Metafy’s Original, Flagship Property Wooshi World 3339

Driver Studios to leverage industry-leading creative and analytics to launch and promote animated ‘Wooshi’ Youtube series in support of consumer product launch in 2025

Today METAFY – a leader in unlocking and applying the benefits of blockchain technology to both legacy and emerging IP – announced that they and DRIVER STUDIOS – the industry’s leading YouTube-solution specialist – have partnered on the development, production and commercial exploitation of animated content based upon METAFY’s flagship brand – ‘WOOSHI WORLD’.

The partnership will see DRIVER STUDIOS develop and produce animated ‘WOOSHI’ content, and then apply their industry-leading data & analytics capabilities combined with compelling storytelling, to drive viewership of the series on a dedicated ‘WOOSHI WORLD’ YouTube channel that DRIVER STUDIOS will create and oversee in early 2025. YouTube has become THE streaming platform for kids and families, with more than 86% of U.S. kids aged 2-12 viewing content on the platform, and 90% of their parents watching alongside.

By combining DRIVER’s data-driven insights with METAFY’S community-centered approach to digital brand-building, fans who enter the ‘WOOSHI’ universe will be invited to participate in crafting its direction and form. Co-creation and co-authorship are key outcomes of how METAFY integrates the blockchain throughout the IP it creates and stewards.

“I am incredibly excited to announce this partnership with DRIVER STUDIOS,” said Cole Gurman, founder and CEO of METAFY. “DRIVER STUDIOS is a leader in driving eyeballs to IP on YouTube, and we’re confident that they’re the ideal partner to help us introduce, drive and monetize our ‘WOOSHI’ IP in 2025 and beyond. Together we’re bridging the gap that many legacy brands face in staying authentically connected to the grassroots culture of the next generation.”

“YouTube is where kids discover and engage with content. It’s also the stage where today’s brands are built,” said Scott Weitz, founder & CEO of DRIVER STUDIOS. “DRIVER STUDIOS has been on the forefront developing and scaling kids content on YouTube for over a decade. The METAFY team has crafted an exceptional original content concept and memorable characters. Merging sophisticated data with creative storytelling, we’re bringing this exciting IP to life on YouTube and setting the stage for the companion toy range launching in 2025. All the ingredients to rapidly scale a brand and its audience are right here. We’re thrilled to partner with Cole and the METAFY team on an innovative approach that represents the future of media.”

In support of DRIVER STUDIOS’s efforts, METAFY will elevate the brand’s reach with an array of ‘WOOSHI’-branded products in 2025, drawing on its deep-rooted retail and consumer product expertise. This strategic rollout will see sought-after items land with key influencers and early enthusiasts, perfectly aligning with the series launch and driven by data that ensure a direct connection between ‘WOOSHI’ consumer products and ‘WOOSHI’ animated content.

About METAFY

METAFY is the prototypical unicorn – where expertise, experience and ambition have come together to seize the opportunity that the transition in the marketplace from Web 2 to Web 3 offers up. METAFY uniquely blends capabilities rooted in the analog worlds of licensed consumer product development and production, and mass market and online retailing, with the digital world of the blockchain and real-world asset (RWA) tokenization. METAFY is an IP-house in name and function, devising and executing customer engagement and brand monetization plans that leverage the places where these worlds overlap, ensuring the most immersive and compelling experience possible for those consumers who engage with its own original IP, and as importantly, the brands that METAFY builds on behalf of third-party IP owners from all around the world.

About DRIVER STUDIOS

DRIVER STUDIOS is a dynamic 360°media and entertainment company dedicated to creative excellence and innovation. Specializing in award-winning YouTube content creation, commercial production, and advanced advertising solutions, DRIVER STUDIOS is a leader in kids and family media. By merging sophisticated data with creative storytelling, DRIVER STUDIOS creates impactful media experiences that engage audiences across screens and devices. Trusted by leading global brands, DRIVER STUDIOS delivers compelling and dynamic media activations at the intersection of creativity, technology, and brand engagement. Learn more at www.driver-studios.com.

Shinami Raises $5.645 Million in Seed Funding to be the “Consensys for Move” 3701

Shinami, the leading developer platform across Move-based blockchains (Aptos, Sui, and Movement), has announced the successful close of a $5.645 million seed funding round. Race Capital led the round, with participation from 6th Man Ventures, Coinbase, Circle, and Mysten Labs. Aptos Foundation provided an additional undisclosed investment.

Positioned as the “Consensys for Move,” Shinami offers a comprehensive, ‘one-stop-shop’ developer platform that simplifies building applications on Move-based blockchains through advanced tooling, easy-to-use APIs, and helpful docs. The platform’s impact is demonstrated through its Node Service powering billions of monthly on-chain reads across hundreds of applications, its Gas Station sponsoring over 100 million transactions to date, and its Wallet Services supporting more than 2 million monthly active users.

“Our team’s experience building developer platforms at Twilio, Microsoft and Alchemy, combined with our early conviction in Move, has shaped how we support builders across the entire ecosystem,” said Nikhil Chari, Co-founder and CEO of Shinami. “This funding empowers us to continue providing the infrastructure and tools Move developers need to create better user experiences across the Sui, Aptos, and Movement networks.”

As part of its commitment to advancing the Move ecosystem, Shinami also joined the Move Collective. This collaboration strengthens Shinami’s ability to support developers as they expand and build on Movement, while contributing to the ecosystem’s broader growth and innovation.

For more information about Shinami and to stay updated on future developments, visit shinami.com and follow Shinami on X at @ShinamiCorp.

About Shinami

Shinami is the leading developer platform for Aptos, Sui and Movement, designed to help Move developers build faster, with better UX, and less overhead. Through its industry-leading Node Service, Gas Station, and Wallet Services, Shinami serves a growing community of developers and millions of end-users.