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Cryptocurrency payments and utility are again getting the spotlight as cryptocurrencies get mainstream attention with Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) and growing political relevance in the U.S. presidential elections. According to CoinGate‘s crypto payments report published on July 25, three cryptocurrencies gained prominence in 2024 Q2. Notably, Solana (SOL) has seen “immediate popularity” since integration, while Litecoin (LTC) and Shiba Inu (SHIB) have experienced remarkable growth. Nevertheless, Tether USD stablecoin (USDT) continues to lead payment preferences, primarily on the Tron (TRX) network. Bitcoin is the second-most-used cryptocurrency on CoinGate, with significant growth for payments using the Lightning Network. Picks for you Buy these crypto coins for a Brat summer ...

Mt. Gox creditors confirm Japanese Yen refunds via PayPal after a decade-long wait. Mt. Gox’s 2014 collapse, losing 950,000 Bitcoins, triggered years of legal battles. The extended repayment timeline could influence 2024 market dynamics. After a decade of anticipation, creditors of the infamous Mt. Gox Bitcoin exchange are finally receiving repayments for their locked-up funds. Recent reports on social media, particularly Reddit, suggest that Mt. Gox has initiated the distribution of Japanese Yen-denominated refunds through PayPal. This comes a few months after Mt.Gox hinted at making BTC payouts before the end of 2023. The development marks a significant development in one of the largest cryptocurrency exchange collapses, where approximately 950,000 Bitcoins worth $450 million vanished in 2014, leaving creditors in limbo for years. A decade-long wait On December 25, users on the mtgoxinsolvency Reddit page shared their experiences of receiving Japa...

Gemini is planning to file a new motion with the court seeking the return of $1.1 billion of digital assets from DCG-owned Genesis. Troubled cryptocurrency exchange Gemini is considering a forbearance option against the Digital Currency Group (DCG), which missed a $630 million re payment last week. When a lender grants forbearance , the borrower can temporarily reduce its mortgage payment or temporarily stop making payment s. The borrower must subsequently pay the reduced or paused payment s. In its updated response, Gemini claimed that the forbearance consideration would be partly based on whether DCG will engage in good-faith negotiations on a consensual deal. If an agreement cannot be reached among the involved parties, Gemini plans to work with DCG-owned Genesis Capital to suggest terms for an amended plan of reorganization that could be advanced without DCG’s consensual participation. On May 19, Genesis also filed a motion with the bankruptcy court seeking to extend its peri...