Mt. Gox Extends Repayment Deadline, PYUSD Integrates with Venmo

Market Update U.S. equities and crypto markets are falling today as investors digest the idea of a higher-for-longer interest-rate future. Following yesterday’s FOMC meeting, expectations for the 2024 and 2025 federal funds rate sharply increased (see below). The SPX and NDQ are both down over 1% at the time of writing, while $BTC (-1.63%) and $ETH (-1.98%) are showing larger declines. $ETHBTC has fallen below 0.06, its lowest level since July 2022. With the possibility of an Ether Futures ETF being approved in early October, it is worth monitoring a potential reversal in the ratio and a period of ETH outperformance.Source: Dylan LeClair (twitter)Bankrupt crypto exchange Mt. Gox has delayed repaying creditors for another year, pushing the deadline to October 31st, 2024. Payments were initially expected to be distributed by Halloween of this year. The deadline extension doesn’t come as a surprise, given creditors have been waiting to be repaid since the exchange was hacked in 2011, resulting in the loss of 850k bitcoin. In a statement announcing the extension, Mt. Gox clarified that creditors who have provided the necessary documentation can expect to receive payments as early as the end of this year. The Mt. Gox estate currently holds 142k Bitcoin, 143k Bitcoin Cash, and 6