Mt. Gox Will Compensate $1 Billion in Bitcoin, But Will Not Sell Until 2019 879

The Mt.Gox debacle, originating from the devastating 800,000 Bitcoin hack in 2014, continues, with recent court documents showing that creditors may finally get the money and Bitcoin they deserve.

Civil Rehabilitation Process Finally Begins

Mt.Gox is undoubtedly the cryptocurrency exchange with the most amount of notoriety, suffering the first notable Bitcoin hack, losing over 800,000 Bitcoin. Since the hack, legal battles have raged between the exchange and its creditors, the thousands of users of the exchange who lost Bitcoin in the hack.

Kobayashi became the topic of discussion in the cryptocurrency community, as he sold thousands of BTC on exchanges, causing substantial fluctuations in price. Some attributed a large majority of 2018’s downward price movement to his sell orders, reportedly selling over 30,000 BTC over the span of six months.  

On June 22nd, Nobuaki Kobayashi, the now infamous Mt.Gox trustee, released a document giving an update on the Mt.Gox’s legal situation. According to the document, Mt.Gox has finally got the go-ahead for the commencement of the civil rehabilitation process. The start of the civil rehabilitation process will temporarily pause Mt.Gox’s ongoing bankruptcy court case, assuring that all debts are paid before the continuation of the bankruptcy proceedings.

The aforementioned document released by Mr.Kobayashi made it clear that users slated to get a “Bitcoin Claim” will receive Bitcoin instead of Japanese Yen, in accordance with Japanese civil rehabilitation law.

Kobayashi wrote:

“In bankruptcy proceedings, non-monetary claims are converted into monetary claims based on the valuation as at the time of the commencement of bankruptcy proceedings. In contrast, in civil rehabilitation proceedings, non-monetary claims are not converted into monetary claims at the time of commencement of the civil rehabilitation proceedings.”

That means that Kobayashi is now legally unable to sell any more of the BTC in his possession for Yen, or at least until the bankruptcy case recommences.

Creditors To Receive Repayment In Q1 Of 2019

Those affected by the Mt.Gox hack will have until October 22, 2018, to make any claims over the Bitcoin stash which Kobayashi holds. Once compiled and verified, the civil rehabilitation requests will be submitted to Japanese courts, by February 14, 2019, at the latest.

CNBC acknowledged the Bitcoin debt repayment in their Fast Money segment, affectionately called Bitcoin’s ‘Funeral’. Brian Kelly, Founder and CEO of the BKCM cryptocurrency and blockchain invest firm, gave three reasons why BTC “isn’t dead yet.” One of these reasons being Mt.Gox’s well-received move to pay off its creditors, despite fears of a large selloff.

Kelly noted that the distribution of the Bitcoin owed will not happen until “Q1 of 2019”, adding that the creditors will not be able to sell their Bitcoin until then.

Brian Kelly added:

“Everybody thinks there is going to be a wave of selling. Not happening now!”

This delay, albeit only 8-9 months, should help to reduce any risk of the propagation of the bearish price movements seen since the start of 2018.

Featured Image from Shutterstock

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Sumsub and Elliptic Team Up to Tackle Crypto Financial Crime 2013

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! 2540

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 2825

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.

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2. Expert Insights


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Dione Protocol Announces DIONE SPARK: A Grants & Accelerator Program to Propel Green Web3 Innovation 3126

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 3299

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” 3652

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.