tion: Happy Thursday! Anticipation is building ahead of tomorrow's inaugural White House Crypto Summit, with speculation swirling over exactly which industry heavyweights will be in attendance.

llowing article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

Anticipation is building ahead of tomorrow's inaugural White House Crypto Summit, with speculation swirling over exactly which industry heavyweights will be attending the event.

However, some are questioning whether the summit will deliver anything tangible or just more hot air.

Mt. Gox, the bankrupt cryptocurrency exchange that is preparing to pay out claims to creditors following a 12-year bankruptcy, moved a large sum of bitcoin (BTC) on Wednesday.

Its funds had been largely inactive since January, and the latest batch of transactions saw 11,834 BTC—valued at over $1 billion—leave a Mt. Gox address and arrive at an unlabeled wallet.

The exchange is planning to pay out claims in bitcoin to creditors whose funds were lost during Mt. Gox’s 2014 collapse.

The Tokyo Bankruptcy Court approved a rehabilitation plan for Mt. Gox in April 2023.

The cryptocurrency exchange went bankrupt in 2014 after hackers stole nearly 850,000 BTC from its hot wallet.

At the time of the theft, the bitcoin was worth around $483 million. In today's prices, the stolen bitcoin is worth over $21 billion.

Past bitcoin sales by the U.S. government were criticized by Trump’s crypto czar, David Sacks, who noted that selling 195,000 BTC for $366 million instead of holding it cost billions in potential value.

On the other hand, the U.S. government is yet to sell any of its seized bitcoin despite a bipartisan bill in 2022 aiming to authorize the sale of digital assets seized by federal agencies.

According to onchain data, Trump family-backed World Liberty Financial bought more than $25 million in WBTC, ETH and MOVE tokens.

The purchases come ahead of the White House Crypto Summit, which is set to take place on Thursday.

The firm bought 240.65 WBTC for about $24.9 million, 1,000 ETH for around $1.5 million and 10 million MOVE for less than $1 million.

The move follows reports that U.S. President Biden's administration is planning to announce a new strategy to counter China's economic threat, which could involve using cryptocurrency.

JPMorgan analysts see less than a 50% chance of a U.S. strategic crypto reserve gaining approval.

The analysts noted that such a move faces skepticism from lawmakers and faces an uphill battle in Congress.

The administration is planning to announce a strategy to counter China's economic threat, which could involve using cryptocurrency.

Argentine federal prosecutor Eduardo Taiano is seeking to freeze over $110 million in proceeds tied to the Libra memecoin scandal.

The scam, which has sparked a political firestorm in the country due to its alleged connection with President Javier Milei, involved a token that shot up 18,000% in price this year.

Часть 1:

Anticipation is building ahead of tomorrow's inaugural White House Crypto Summit.

The event, which will bring together leading figures from the industry to discuss pressing issues in the digital asset domain, has been a subject of much speculation.

Among the topics to be covered are the administration's strategy for countering China's economic threat, which could involve using cryptocurrency.

However, some are questioning whether the summit will deliver anything tangible or just more hot air.

The cryptocurrency exchange, which is preparing to pay out claims to creditors following a 12-year bankruptcy, made a large transaction on Wednesday.

Mt. Gox's funds had largely remained inactive since January.

The latest batch of transactions saw 11,834 bitcoin (BTC), valued at over $1 billion, move from a Mt. Gox address to an unlabeled wallet.

The exchange is planning to pay out claims in bitcoin to creditors whose funds were lost during Mt. Gox's 2014 collapse.

The Tokyo Bankruptcy Court approved a rehabilitation plan for Mt. Gox in April 2023.

The exchange went bankrupt in 2014 after hackers stole nearly 850,000 BTC from its hot wallet.

At the time of the theft, the bitcoin was worth around $483 million. In today's prices, the stolen bitcoin is worth over $21 billion.

Past bitcoin sales by the U.S. government were criticized by Trump's crypto czar, David Sacks, who noted that selling 195,000 BTC for $366 million instead of holding it cost billions in potential value.

On the other hand, the U.S. government is yet to sell any of its seized bitcoin despite a bipartisan bill in 2022 aiming to authorize the sale of digital assets seized by