Cryptocurrency
Cryptocurrency News Update: Riot Platforms Drops Bitfarms Acquisition, Mt. Gox Repayment Plan Revealed, Whale Activity Decreases
Tuesday. June 25 at 5:00 AM
1 min. readRiot Platforms has abandoned its bid to acquire Canadian Bitcoin miner Bitfarms and instead plans to replace three board members. Mt. Gox, the defunct crypto exchange, has announced the commencement of repayments to Bitcoin and Bitcoin Cash investors in July 2024. Whale transaction activity has slowed down as Bitcoin's price hit a 40-day low. Riot Platforms, holding a 14.9% stake in Bitfarms, withdrew its acquisition proposal due to conflicts with the board. Mt. Gox, which lost 850,000 Bitcoin in 2014, will start repaying creditors. Bitcoin whales reduced their transactions before the price drop. The Crypto Fear and Greed Index dropped to a neutral level, indicating a potential bearish trend for Bitcoin. Spot Bitcoin ETFs also saw consecutive outflows, signaling a bearish market sentiment.