Court to Extend Deadline for Mt Gox Rehabilitation Plan

As reported earlier, all verfied Mt. Gox clients will receive compensations, even those who did not make up the application
26 April 2019   392

The Tokyo District Court approved the petition of the trustee of the bankrupt Mt.Gox Bitcoin Exchange Nobuaki Kobayashi to extend the consideration of creditors ’applications for compensation and postponed the filing of the final civil rehabilitation plan until October 28.

Note that Kobayashi was supposed to submit a civil rehabilitation plan on April 26, but asked for more time to review the rejected applications.

At the end of March, the trustee informed the court of the completion of the consideration of applications, but now notified the court that the status of rejected requests could be revised.

It is noteworthy that even those users who did not make up the application will receive compensation. This applies to all verified Mt.Gox clients.

Fake Trading Share to Reach 68%, - FTX Global

This figure, however, is significantly lower than what Bitwise's report and the discrepancy is explained by the difference in methodology
04 July 2019   977

The exchange of derivatives FTX Global and Alameda Research conducted a study that estimated the volumes of fictitious transactions (wash trades), presumably prevailing in many cryptocurrency exchanges.

The report says that 68.6% of trading volumes displayed by CoinMarketCap are fake. This figure, however, is significantly lower than what Bitwise Asset Management announced in March.

The discrepancy between the results in almost 30% of the authors of the new study is explained by the difference in methodology. So, FTX Global is sure that Bitwise used an too strict approach to data analysis, which is why a significant proportion of real trading volumes fell into the category of fake ones.

While our methods are not foolproof, we believe they paint the most accurate picture of the true nature of cryptocurrency trading volume that anyone has made publicly available as of yet.

FTX Global Team

The Alameda methodology involves verifying the authenticity of data on trading volumes on various exchanges based on six different parameters, including manual verification of information and comparison of order books.

FTX Global Website
FTX Global Website

In particular, the experts found out that some sites provided data on the volumes of foreign exchanges for their own, with a slight delay in time. Other platforms used more advanced techniques - for example, they introduced large fake volumes only against the background of many smaller orders, thus trying to hide the true state of affairs.

The main purpose of these tactics is to raise the platform higher in the CoinMarketCap rating, creating a false impression of its liquidity. It also sometimes allows for the ability to charge a higher listing fee.