Mt. Gox Moves $1bn in Bitcoin for Third Time This Month, Sparking Creditor Payout Speculation.
By Kapil Rajyaguru
Mt. Gox, the Japanese crypto exchange that went bankrupt in 2014 after a massive hack, has made its third major Bitcoin transaction this month, shifting over $1 billion in Bitcoin to two different wallets.
The recent Bitcoin shuffling has raised speculation that it could be linked to creditor payouts, as Mt. Gox has been distributing Bitcoin to creditors since 2024.
The final payout date for creditors was extended in October 2024 to Oct. 31, 2025, due to the ongoing verification process for claimants.
Despite the size of these recent transactions, there has been no significant impact on the price of Bitcoin, which had been the case in the past when large transfers sparked concerns about sell-offs.
This time, however, Bitcoin’s market price has remained stable, and there has been no immediate panic over the transfers.
Trump Media Unveils Crypto ETF Plan with Crypto.com. Donald Trump-Backed WLFI Launches USD1 Stablecoin on Ethereum and Binance’s BNB Chain.
U.S. President Donald Trump’s media company, Trump Media and Technology Group (TMTG), has announced a partnership with Crypto.com to launch a suite of exchange-traded funds (ETFs) and exchange-traded products (ETPs).
The planned financial products will feature Bitcoin (BTC), Crypto.com’s native Cronos (CRO) token, and other digital assets alongside U.S.-focused securities.
Pending regulatory approval, the ETFs will launch in late 2025 and will be available in the U.S., Europe, and Asian markets through brokerages and Crypto.com’s app, which boasts 140 million users globally.
Meanwhile, World Liberty Financial (WLFI) – the DeFi venture backed by US President Donald Trump – has launched a stablecoin called USD1.
Pegged to the US dollar, the token is designed to function as a digital asset equivalent to the dollar and is currently available on both Ethereum and Binance’s BNB blockchains.
Metaplanet Buys $12.6mn in Bitcoin, Boosting Holdings to 3,350 BTC.
Metaplanet has increased its Bitcoin holdings to 3,350 BTC after buying an additional 150 BTC for approximately $12.6 million.
The firm has been accelerating its acquisitions throughout 2025, adding 1,288 BTC in the first 11 weeks of the year.
According to a March 24 statement posted on X, the Japanese investment firm purchased the Bitcoin at an average price of $83,801 each. This brings the company’s total Bitcoin acquisition cost to $278.8 million, with an average purchase price of $83,224 per BTC.
Last week, it announced the formation of an advisory board, appointing Eric Trump as its first member. While it did not disclose specific details about Trump’s role, CEO Simon Gerovich stated that the board will consist of influential figures committed to advancing Bitcoin adoption.
He described Trump’s appointment as a major step toward the goal of becoming one of the world’s leading Bitcoin treasury companies.
GameStop Raising $1.3bn Via Convertible Debt to Buy Bitcoin.
GameStop is offering $1.3 billion in convertible notes with a 0% coupon, with net proceeds expected to be used for acquiring bitcoin.
The $1.3 billion of convertible senior notes will have a five-year maturity, according to a press release, and the underwriter greenshoe is for up to an additional $200 million.
Led by Ryan Cohen, GameStop is taking a page from Michael Saylor’s strategy, which has raised many billions via convertible debt for the purposes of building its bitcoin stack.
SEC Drops Ripple Appeal, Paving the Way for Potential XRP ETF Approval in 2025.
The U.S. Securities and Exchange Commission (SEC) has decided to drop its appeal in the Ripple case, marking a significant moment for the crypto industry.
With the legal battle over, attention now turns to the possibility of an XRP exchange-traded fund (ETF). Multiple firms, including Grayscale, WisdomTree, and Bitwise, have filed for XRP ETFs, and there is growing optimism within the industry that the SEC will approve one soon.
Prediction platform Polymarket shows an 80% chance of an XRP ETF being approved this year. Ripple CEO Brad Garlinghouse expressed confidence, stating that he believes the SEC will approve an XRP ETF in the second half of 2025.
SEC Crypto Task Force to hold 4 more Roundtables in 2025.
The U.S. Securities and Exchange Commission (SEC) Crypto Task Force will hold four more roundtables from April to June 2025 to discuss crypto regulations.
Post the first roundtable session held on March 21, the SEC is hopeful that these roundtable discussions with leading figures from the US crypto industry will help bring more clarity to the sector.
The upcoming series will commence on April 11 with a discussion dedicated to tailoring regulations for crypto trading. Subsequent roundtables will address crypto custody on April 25, tokenization and asset movement on-chain on May 12, and DeFi on June 6.
Fidelity’s US Dollar-Pegged Stablecoin Set for May Launch.
Fidelity Investments – one of the largest asset managers in the United States – is nearing the launch of its own US dollar-pegged stablecoin.
This move comes at a time when the regulatory landscape for cryptocurrencies in the US has grown more favorable, particularly under the Trump administration’s friendly policies.
According to the latest report by the Financial Times, the financial giant is in the final stages of testing the stablecoin through its digital assets division, Fidelity Digital Assets.
The stablecoin is expected to debut by the end of May and is part of a broader push by the firm into the cryptocurrency sector.
Fidelity’s stablecoin initiative comes as the stablecoin market continues to grow, with companies like Tether with USDT and Circle with USDC holding the lion’s share.
The market is currently worth around $235 billion and has seen an influx of traditional financial firms eyeing the space, spurred by regulatory clarity around stablecoin issuance.
You need to login in order to Like
