Peter Todd nominated Satoshi on HBO and Mt. Gox repayment plan deadline postponed and more: Hodler’s Digest, Oct. 6

Top news of the week

Mt. Gox postpones repayment plan deadline to October 2025

Mt. Gox, the defunct cryptocurrency exchange, has postponed the deadline to repay creditors by one year, bringing forward the deadline for returning funds to October 31, 2025.

According to the official announcement, “there are many rehabilitation creditors who have not yet received repayment without completing the necessary procedures.”

The platform was one of the world’s first cryptocurrency exchanges and at one time handled approximately 70% of the world’s Bitcoin transactions. Facing a series of security breaches and unnoticed hacks, it halted withdrawals and eventually collapsed in 2014, locking out the funds of about 127,000 users.

Nigerian court denies Binance executive bail despite health concerns

A Nigerian court has rejected Binance executive Tigran Gambaryan’s bail application citing health issues. The court ordered the prison to transport him to the hospital for treatment.

According to a report by Bloomberg, Judge Emeka Nwite of the Federal High Court in Abuja, Nigeria, rejected Gambarian’s bail application on October 11.

Nwite reportedly ruled that the Binance executive should remain in prison despite his deteriorating health. Because such conditions “do not entitle them (inmates) to leave custody.”

The judge reportedly said Gambarian would be allowed to leave the country only if “the detainee’s continued stay would cause harm to others and isolation would not be possible.”

Former FTX executive expected to report to jail after judge rejects request

After multiple legal attempts to delay reporting to prison following his seven-and-a-half year sentence, Ryan Salame, the former co-CEO of FTX Digital Markets, will remain behind bars until October 11. It’s highly likely.

In papers filed Oct. 10 in the U.S. District Court for the Southern District of New York, Judge Lewis Kaplan denied Salameh’s request to carry out his sentence on Dec. 7 instead of October.

The former FTX executive argued there were medical reasons for him to remain a free man for an additional two months, but Judge Kaplan cited previous attempts at delays and Salame’s recent actions.

U.S. attorneys argued during a hearing on September 12 that the former FTX executive “appeared to have recovered physically” and took time to appear on an online talk show. tucker carlson show For an interview.

Vitalik Buterin has been mentioned as a candidate for the 2024 Nobel Prize in Economics.

Economists Tyler Cowen and Alex Tabarrok, who run the blog Marginal Revolution, recently selected the winners of the upcoming 2024 Nobel Prize in Economics.

This discussion came from the duo’s October 8 episode. marginal revolution Podcast.

Cowen described Ethereum co-founder and computer scientist Vitalik Buterin as an “unusual choice” if given the opportunity.

While he and co-host Tabarrok discussed their views on the merits of theoretical economics, the two agreed that Buterin deserved the award “because he actually did something in monetary economics.”

Per Cowen:

“Vitalik built a platform, created a currency, and along the way clearly followed in Satoshi’s footsteps and refuted Mises’ regression theorem, but my goodness, what does it take to win a Nobel Prize?”

Peter Todd plays Satoshi Nakamoto in the HBO documentary

An HBO documentary aimed at revealing Satoshi Nakamoto, the pseudonymous creator of Bitcoin, has pointed to Peter Todd, a key Canadian Bitcoin developer, as the inventor of the cryptocurrency.

Cullen Hobak – HBO Producer Money Electric: The Bitcoin Mystery Documentary — Todd and Blockstream CEO Adam Back face off over the evidence they pieced together to conclude that Todd was Nakamoto.

The documentary’s finale ends with Todd saying “Yes, I’m Satoshi Nakamoto” in response to Hoback’s confrontational question.

However, this “recognition” does not necessarily prove that Todd is the inventor of Bitcoin. He is best known for saying the phrase “I am Satoshi” to defend the privacy rights of actual creators.

Todd publicly denied being the creator of Bitcoin ahead of the documentary’s debut and questioned Hoback’s conclusions after clips from the documentary were leaked online ahead of its debut.

winners and losers

Bitcoin this weekend (BTC) It’s in $62,754; ether (ETH) to $2,440 and XRP to $0.54. The total market capitalization is $2.19 $1 trillion, according to CoinMarketCap.

Among the top 100 cryptocurrencies, the top three altcoin gainers this week are First Neiro On Ethereum. (nerves) 65.79%, dogwifehat (WIF) 20.29%, Uniswap (uni) 17.92%.

The top three altcoin losers this week are Stacks. (STX) At 10.74%, the beam (beam) 9.44%, Aptos (appropriate) 9.21%. For more information on cryptocurrency prices, read Cointelegraph’s market analysis.

most memorable quotes

“Moving forward, we are prepared to return 100% of the bankruptcy claims plus interest to non-governmental creditors through the largest and most complex distribution of bankruptcy estate assets in history.”

John J. Ray III, CEO and Chief Restructuring Officer of FTX

“It feels more like a discovery than a startup or invention because it doesn’t involve any founder-type people. right. So I think this is good for the idea of ​​Bitcoin as a commodity.”

adam Baek, CEO and co-founder of Blockstream

“If you have a large account promoting a new low-cap memecoin to your followers every few days (because) you don’t have an edge and you have to use your followers instead.”

ZachXBTBlockchain Investigator

“Investors demand a new price range to reawaken supply.”

james checkSenior Analyst at Glassnode

“You can generate much higher returns in cryptocurrencies by applying traditional investment strategies because the markets are less efficient.”

edward chinCEO and Co-Founder of Parataxis Capital Management

“One of the many unfortunate aspects of the current regulatory regime is that not only are we chasing good actors, but fraud and bad actors are also at an all-time high. (…) I just ignored it.”

Chris DixonGeneral Partner at Andreessen Horowitz

Predictions of the Week

US election results won’t stop Bitcoin from hitting $100,000: Dan Tapiero

Dan Tapiero, founder of 10T Holdings, said on Oct. 10 that the U.S. election results will not change the bullish trajectory of cryptocurrencies like Bitcoin, which will likely reach $100,000 per coin no matter which presidential candidate wins.

“I don’t think it really matters. Now everything is going up. The election will pass,” Tapiero said of Bitcoin during a panel discussion at the Permissionless conference in Salt Lake City, Utah.

“Bitcoin is a proxy (for cryptocurrencies in general) and we believe it will head to $100,000 relatively soon and other assets will follow,” Tapiero said.

In November’s US presidential election, Republican presidential candidate Donald Trump, who has said he wants to make the US the ‘cryptocurrency capital of the world’, will face off against Democrat Kamala Harris, who is relatively quiet in the industry.

FUD of the week

86-year-old pays $14 million after admitting to cryptocurrency Ponzi scheme

An 86-year-old former California lawyer has been sentenced to five years of probation and ordered to pay nearly $14 million after admitting to running a multi-million dollar cryptocurrency Ponzi scheme.

In a decision handed down Oct. 8 by Las Vegas Federal Court Judge Gloria Navarro, David Kagel was sentenced on a charge of conspiracy to commit merchandise fraud after pleading guilty in May.

Kagel is currently receiving hospice care at a senior facility in Las Vegas due to health issues. He will remain there on probation as long as he cannot leave, and if he can, he will be required to wear a monitoring device.

Government prosecutors who indicted Kagel last year said that from December 2017 to about June 2022, Kagel and two accomplices lured victims into investing in a fraudulent cryptocurrency bot trading scheme that promised high returns and zero risk.

FBI charged with violating MIT license in use of smart contract code

The US Federal Bureau of Investigation (FBI) has been accused of violating the terms of the MIT license in smart contracts.

On October 10, X user 0xCygaar, known as an AbstractChain contributor, publicly accused the organization of using OpenZeppelin’s library (an open source code resource) without properly including the required licensing attributes.

If confirmed, these omissions may be considered violations of copyright law. This is because the MIT License explicitly requires that any actual use or modification of the code include the original license.

User

The claim centers on the FBI’s failure to include the MIT License Notice when utilizing the OpenZeppelin library, which is widely used to create secure smart contracts.

The MIT License governs the use of blockchain technology specifically within the Ethereum ecosystem. Distribution, modification and free use are permitted provided the original license terms are maintained.

Cryptocurrency fraudster escapes after tampering with ankle bracelet

A man who was being held on home detention for his alleged involvement in a $180 million cryptocurrency fraud scheme appears to be on the run after tampering with his ankle brace monitor, New York prosecutors said.

Horst Jicha, the former CEO of USI-Tech, a known cryptocurrency mining and trading company, allegedly “tampered with an ankle bracelet” and “fleeed in violation of pre-trial conditions” on October 4. The Oct. 10 court filing reads: .

The Office of Pretrial Services alerted the government about 12 hours after Jicha’s bracelet stopped working and almost immediately filed a warrant for the fugitive’s arrest.

Jicha, a German national, was arrested in Miami, Florida, on December 23, 2023, after entering the United States for the first time in more than five years for vacation.

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editorial staff

Cointelegraph Magazine writers and reporters contributed to this article.