GMExplorer,

Craig Wright, who’s been loudly claiming to be Bitcoin's mysterious creator, Satoshi Nakamoto, is back in the spotlight.

This is the Crypto Explorer, your crypto tour guide.

Here’s what we got for you today:

• ⚖️ Court shuts down Craig Wright's Satoshi claims!

• 💰 Kraken confirms receiving Mt. Gox funds!

• 🧱 Around The Block: FTX agrees to a $12.7 billion settlement with CFTC over collapse.

⚖️ Court Shuts Down Craig Wright's Satoshi Claims!

The UK High Court has shut down Craig Wright’s claims that he is Satoshi Nakamoto, the creator of Bitcoin!

Yep, that’s right! They basically told him, "Nope, you're not Satoshi!"

This whole saga started back in 2016 when Wright began aggressively asserting he was Satoshi, trying to claim Bitcoin's intellectual property.

However, the court found he’d forged and tampered with documents to support his story.

The evidence he submitted contained so many errors that Judge James Mellor, who handled the case, pointed out that the real creator of Bitcoin wouldn’t make the sloppy mistakes found in Wright's evidence.

Talk about a major facepalm moment! But really, if he’s going to make such bold claims, shouldn’t he have done his homework thoroughly?🤦‍♀️

But it gets even worse for Wright:

The judge has referred him to the Crown Prosecution Service for possible prosecution for perjury and forgery, highlighting Wright's extensive lies and document tampering.

Adding to his woes, Wright lost a defamation lawsuit against podcaster Peter McCormack and is now dealing with asset freezes to cover $2 million in legal fees. Ouch!

He's also banned from ever making claims about being Satoshi again or taking any legal actions based on his false claims.

And he has to remove any such statements from his website, which, by the way, has already been done.

His website now features a disclaimer stating that he is not Satoshi Nakamoto.

Check out the detailed story here – trust me, it’s a wild read!

💰 Kraken confirms receiving Mt. Gox funds!

Big news for Mt. Gox creditors! They are finally on the verge of getting back their lost Bitcoin.

On Tuesday, Wallets belonging to the collapsed crypto exchange moved 91,755 Bitcoin, worth over $5.9 billion.

And guess what? Kraken just confirmed that it received a chunk of these funds!

If you're wondering how much they got, Arkham Intelligence reports that Kraken has 48,641 Bitcoins worth over $3.1 billion.

They will begin distributing the funds to creditors within 7-14 days.

It's about time! This long-awaited payout has been a decade in the making since Mt. Gox collapsed in 2014 due to hacks.

But the big question is: how will this impact the market?

The concern has been that if everyone sells their Bitcoin at once, it could crash the market.

However, Brian Dixon, CEO of crypto hedge fund Off The Chain Capital, doesn't think this will happen.

He believes many Mt. Gox creditors are likely die-hard Bitcoiners who may not rush to sell.

And that even if some selling occurs, Bitcoin's latest high trading volume suggests the market can handle it.

We’ll see if he's right or wrong in the next few weeks!⏰⏳

Oh, and did you know that Off The Chain Capital is also a Mt. Gox creditor? Their Mt. Gox position makes up almost 20% of the entire fund.

Check out the full story here for more insights.

🧱 Around The Block:

• FTX agrees to a $12.7 billion settlement with CFTC over collapse.

• Binance’s crypto 2024 half-year report is OUT – Here’s the market performance.

• Shiba Inu prepares for major burn as liquidity surpasses $800 million.

• Bitcoin critic Senator Menendez convicted of taking bribes in gold.

• Tottenham Hotspur partners with Crypto platform Kraken.

• Binance official Gambaryan arrives at court in a wheelchair, denied bail.

• Stripe expands crypto purchasing into the European market.

That's all we've got for you today.

Please don't forget to rate today's email and let us know what you like about it.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW”