THE HASH: Mt. Gox Payout Update; NFT Marketplace Blur Ramps Up Royalty Battle With OpenSea

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4.7 • 698 Ratings

🗓️ 16 February 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

The most valuable crypto stories for Thursday, Feb. 16, 2023. "The Hash" team discusses the biggest headlines of the day, including the two biggest creditors of Mt. Gox, the crypto exchange that failed due to a hack nine years ago, electing to get their bankruptcy recovery paid out mostly in bitcoin (BTC), according to CoinDesk sources. Plus, the battle between zero-fee non-fungible token (NFT) marketplace Blur and leading competitor OpenSea has intensified as both platforms vie for market share among NFT creators. See also: Mt. Gox’s 2 Largest Creditors Pick Payout Option That Won’t Force Bitcoin Sell-Off: Sources NFT Marketplace Blur's Token Reaches $500M Trading Volume After Airdrop - This episode has been edited by Ryan Huntington with senior producer Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.” - Are you building the next big thing in Web3? Apply to pitch your project live on stage at the CoinDesk Pitchfest Powered by Google Cloud at Consensus, the industry’s most influential event happening April 26-28 in Austin, Texas. Apply by March 31 for a chance to be among the twelve finalists selected to pitch. Visit consensus.coindesk.com/pitchfest for more information. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This is the hash podcast.
0:10.0	Stay informed with the latest on Bitcoin, Eith, the Metaverse, Web3, and more with stories that matter to the crypto world.
0:17.3	All on the hash for your ears.
0:22.1	You're listening to the Coin Desk Podcast Network.
0:26.5	Hey there, welcome to CoinDest TV.
0:28.5	You're watching The Hash where we get up to speed on what's going on in crypto and more.
0:32.2	I'm Zach Seward.
0:32.9	We got Adam Levine, Will Foxley, and Jen Sanassie today.
0:35.9	We are going to jump right in with an update on
0:38.8	the Magic the Gathering online exchange. Adam, what do you got? First up, Mount Gox, one of the
0:45.1	earliest and at the time largest Bitcoin exchanges, which went broke back in 2014 after
0:49.1	suspiciously losing most of the client funds held within it, has been in bankruptcy now for a
0:53.3	very long time. But there does appear to be a light at the end of the tunnel funds held within it, has been in bankruptcy now for a very long time,
0:54.3	but there does appear to be a light at the end of the tunnel. Creditors have been presented
0:58.2	with two options now, take a slightly smaller recovery today in a combination of Bitcoin, Bitcoin
1:02.8	cash and yen, which the exchange still has on hand, or wait for a later recovery paid in cash
1:08.2	that might be higher but might also be lower. Creditors who choose to
1:11.8	wait might also be waiting for quite a while as long as a decade potentially while related
1:16.0	litigation involving the company proceeds. Given that choice, the two largest creditors have
1:20.5	decided to take payments sooner rather than later. And that means that market watchers,
1:24.9	at least some of them, are happy since the payments will be made without first selling Bitcoin into the market itself, which some people think will be better for price stability and stuff like that.
1:34.4	Zach, we've been following this story for a long time. What's your take on it today?
	...

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