DeFI News by Thebittimes.Com

The defunct exchange had an original repayment deadline of October 31, 2024 Mt. Gox said the delay was down to creditors not completing the repayment steps and issues arising from the repayment process In 2024, Mt. Gox collapsed following a security breach, resulting in the loss of 850,000 Bitcoin Defunct crypto exchange Mt. Gox has pushed its repayment deadline to October 2025, adding another year from its original date. According to a statement from the exchange, it will now repay creditors on October 31, 2025. “As it is desirable to make the Repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline for the Repayments from October 31, 2024 (Japan Standard Time) to October 31, 2025 (Japan Standard Time),” Mt. Gox said. This marks the second time the platform has moved its deadline. In a 2023 statement, the platform announced that it wa...

Justin Sun and his company Rainberry (formerly BitTorrent) have delayed an appearance they were due to make in court on September 20 to face charges of fraud and market manipulation. The judge granted the last minute delay, giving Sun an extension until December 8 to prepare for court. However, buried within the court document was an interesting fact: on April 6, the Singaporean entity known as the TRON Foundation was dissolved. Supposedly, the TRON Foundation had transitioned to a DAO (decentralized autonomous organization) in 2021, but the Foundation continued to exist. Compounding the confusion though is the fact that, at least according to court documents, the TRON Foundation will be reincorporated in Singapore so that it can be served by the SEC. This implies that either the dissolution of the TRON Foundation was done in error or was on purpose to avoid legal service. Either way, it appears as though what was once hailed as a transition from a centralized entity to a decentr...