Bitcoin experienced a sharp decline, falling below $68,000 after Mt. Gox wallets transferred $9 billion worth of BTC to an unknown address early in the Asian morning. This significant transaction is part of an expected plan to repay creditors by October 31. Following the transfer, Bitcoin’s price dropped to $67,680, marking a decline of over 1.5% in the past 24 hours. However, Bitcoin rebounded to $68,000 during the European morning and is currently trading just under $68,500. Despite this fluctuation, the CoinDesk 20 Index (CD20) is up by approximately 0.3%.
Solana Validators to Receive Full Priority Fees Following Governance Vote
Solana validators are set to receive 100% of priority fees after a successful governance proposal passed with 77% approval late Monday. Previously, half of the fees from priority transactions were burned, while the other half went to validators. This system led to validators making side deals with transaction submitters for additional SOL. The new proposal, created by tao-stones on the Solana governance forum, aims to ensure validators focus on network security and efficiency. Following the vote, SOL’s price increased by about 1.15% in the last 24 hours, trading at approximately $167.70 according to CoinDesk Indices data.
Elwood Technologies Considers Selling Part of Its Business Amid Strategic Shift
Elwood Technologies, a platform specializing in cryptocurrency trade execution and risk management, backed by billionaire hedge fund manager Alan Howard, is reportedly in talks to sell part of its business. Sources indicate that Elwood is refocusing on its portfolio management and risk management software-as-a-service (SaaS) business, reducing its emphasis on trading operations. This strategic shift aligns with Howard’s broader reorganization of his crypto investments. Earlier this year, Bloomberg reported that Howard was seeking to divest his stakes in crypto exchange Bitpanda and custody firm Copper to concentrate on Brevan Howard Digital
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