Harry 
Cryptocurrency News: Terraform Labs Bankruptcy, Mt. Gox Movements, and More
Hey Hamsters! Today’s news includes an update on Terraform Labs’ bankruptcy, major movements from the defunct cryptocurrency exchange Mt. Gox, and another hack. Keep up! Things are spinning quickly on the hamster wheel after the downfall of the Terra ecosystem back in 2022 and the declaration of bankruptcy.
Terraform Labs’ Bankruptcy Hearing Date Set
On January 21st, 2024, Terraform Labs received a date for its Chapter 11 bankruptcy reorganization hearing, set for September 19th. The outcome of this hearing will determine if the company can restructure or will need to liquidate its remaining assets and cease operations.
McDonald’s Instagram Hack Promotes Meme Coin
In other news, hackers appear to have taken over McDonald’s Instagram account to promote a salon meme coin called Grimas. Although the post has since been deleted, someone was quick to write, “Thank you for the $700,000 in Solana.” Following news of the hack, nothing else was posted on Instagram.
La Rock’s Ethereum Trust Reaches $1 Billion in Net Inflows
La Rock’s Ethereum Trust became the first Ethereum ETF to hit $1 billion in net inflows, making it the first of 11 issues to reach this milestone. Yay!
Mt. Gox Moves $700 Million in Bitcoin
After no movement for three weeks, Mt. Gox, the exchange that was hacked and collapsed in 2014, has shifted $700 million in Bitcoin (12,000 Bitcoin) to a new unknown wallet address. The major move is speculated to be in preparation to distribute more Bitcoin to its creditors. Interestingly enough, another 12,000 Bitcoin also saw movement. Tron stablecoin USDD was reported to have removed 12,000 Bitcoin from its collateral, a move that the DAO allegedly did not approve.
El Salvador to Train Government Employees in Bitcoin
El Salvador initially made headlines for adopting Bitcoin as an official currency. Now, the National Bitcoin Office of El Salvador has announced it will train and provide Bitcoin instruction and certifications to a whopping 880,000 government employees.
That’s all for today! Thanks for watching. Subscribe and remember, hamsters are power—one for all and all for one. See you tomorrow!
