Crypto
Massive Sell-Off: Mt. Gox Bitcoin Payout Fears Wipes Out $170 Billion From Crypto Market

The cryptocurrency market experienced a substantial downturn on Friday, compounding the selling pressure witnessed over the past two weeks. The leading cryptocurrency, Bitcoin (BTC), retraced over 20% from its highs in June and May, dropping as low as $53,500.
The market decline was largely attributed to the long-awaited trustee overseeing the Mt. Gox bankruptcy, who announced the commencement of Bitcoin and Bitcoin Cash repayments to creditors affected by the infamous hack that resulted in billions in losses.
As a result, the entire cryptocurrency market shed over $170 billion in combined market capitalization in just 24 hours.
Bitcoin Repayments And German Government Sell-Off
The trustee responsible for the Mt. Gox bankruptcy estate, Nobuaki Kobayashi, stated that Bitcoin and Bitcoin Cash repayments had begun through designated crypto exchanges.
While the amount transferred to these exchanges was not specified, data from market intelligence platform Arkham revealed that 47,229 BTC, valued at $2.71 billion, had been transferred to an unknown address.
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Kobayashi emphasized that the remaining funds would be returned to creditors once “specific conditions” were met, including verifying registered accounts and finalizing discussions with the designated exchanges.
The decline in crypto prices led to substantial liquidations in the derivatives markets, with over 229,755 traders experiencing combined liquidations worth $639.58 million in the past 24 hours. Of this amount, $540.46 million represented long trades, indicating positions taken by investors expecting long-term asset appreciation.
Additionally, the German government contributed to the market pressure by selling approximately 3,000 BTC, equivalent to around $175 million, from a seized stash of 50,000 BTC associated with the movie piracy operation Movie2k. Despite the sell-off, the government still holds over 40,000 BTC, valued at over $2 billion.
What Historical Price Cycles Suggest
Despite the ongoing bloodbath witnessed in crypto prices over the past month, industry insiders and analysts remain optimistic about Bitcoin’s future performance.
Despite the short-term selling pressure resulting from Mt. Gox repayments, experts anticipate a rebound towards the end of the year. Crypto data and research firm CCData suggested that Bitcoin’s current appreciation cycle has not yet peaked and will likely achieve a new all-time high.
Historical market cycles indicate that Bitcoin’s Halving event, which reduces the supply of new BTC, typically precedes a period of price expansion between 12 and 18 months. The most recent Halving occurred in April, suggesting potential further growth into 2025.
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Tom Lee, co-founder and head of research at Fundstrat Global Advisors, told CNBC that he predicts that Bitcoin will hit $150,000 despite the Mt. Gox overhang.
The launch of an Ethereum exchange-traded fund (ETF) in the US and the approval of the first US spot Bitcoin ETF earlier this year contribute to the overall positive sentiment in the market, indicating potential growth and further mainstream adoption of cryptocurrencies.
At the time of writing, BTC is trading at $55,680, reflecting a significant 21% drop in price over the past month. Bulls in the market are closely monitoring the $54,480 price level, representing substantial support for BTC. This level holds critical importance as it could prevent further price declines and the risk of breaking below the crucial $50,000 level.
Featured image from DALL-E, chart from TradingView.com

Crypto
Quantum Cryptocurrency – Securing The Future Of Digital Assets

Cryptocurrency, like Bitcoin, is digital money you can send or receive without banks, and it’s stored securely online. In 2025, Bitcoin hit a record $111,880, making up 56.7% of the $3.88 trillion crypto market. But new, super-powerful computers called quantum computers could one day hack regular cryptocurrencies. That’s where quantum cryptocurrency comes in. It’s a new type of crypto designed to stay safe even if quantum computers arrive.
Let’s explores quantum cryptocurrency, its real-world implementations, and how it safeguards the future of crypto.
What is Quantum Cryptocurrency?
Quantum cryptocurrency refers to digital currencies and blockchains using quantum-resistant cryptographic algorithms to protect against quantum computing attacks. To keep it simple, it is digital money built to be extra secure against quantum computers. Regular cryptocurrencies, like Bitcoin, use math puzzles to keep your money safe. These puzzles are hard for normal computers to crack, but quantum computers, superfast machines that work differently, might solve them someday, putting your money at risk.
Quantum cryptocurrency uses new, stronger math puzzles that even quantum computers can’t break. Think of it like a lock that’s impossible to pick, no matter how advanced the thief’s tools are. It’s still digital money you can use to buy things, trade, or save, but it’s designed to stay safe in the future. Here’s a short video by Algorand which explains how Quantum Computing attacks:
Quantum computers are still rare and not strong enough to hack crypto yet, but companies like Google and IBM are making them better every year. Google’s new Willow chip, for example, can do some calculations in minutes that would take regular computers billions of years. If quantum computers get powerful enough, they could steal Bitcoin or other crypto by cracking their security codes. Quantum cryptocurrency protects your money by using new security methods that quantum computers can’t break. By switching to quantum-safe crypto, you can keep your money secure even as technology changes.
Quantum Cryptocurrency Projects
Several companies and projects are working on quantum cryptocurrency to make crypto safer. Here are the main ones as of 2025:
1. Quantum Resistant Ledger (QRL)
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What They Do – QRL is a cryptocurrency, like Bitcoin, but built to be safe from quantum computers. It uses a special lock called XMSS that’s super hard to crack. You can buy QRL on exchanges like Coinbase and use it to send money or run apps
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QRL is one of the first coins designed specifically for quantum safety, making it a leader in this space.
2. Algorand (ALGO)
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What They Do – Algorand uses Falcon, a post-quantum digital signature, to sign its blockchain history every 256 blocks, securing past transactions. While not fully quantum-resistant, its roadmap includes PQC upgrades.
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Algorand balances scalability and quantum security for DeFi applications. Algorand is used for fast, cheap transactions and apps, and its quantum focus makes it a trusted name for investors.
3. Nervos Network (CKB)
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What They Do – Nervos runs a blockchain called CKB (Common Knowledge Base) that supports apps and digital money. It’s starting to use quantum-safe security to protect users’ funds. Nervos’ CKByte (CKB) operates on a dual-layer PoW blockchain, combining security and scalability. Its quantum-resistant features leverage NIST’s PQC standards, making it a versatile platform for dApps and asset storage.
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Nervos makes it easy for developers to build secure apps, which could bring more people to quantum-safe crypto.
4. QuChain AI ($QC)
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What They Do – Launched on Uniswap in May 2025, QuChain AI’s $QC token powers an AI-driven, quantum-secure blockchain using PQC encryption. It combines artificial intelligence (AI) with quantum-safe security to create a blockchain for smart apps
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QuChain’s mix of AI and quantum safety could make crypto easier and safer to use.
5. Big Tech and Governments
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Companies like Google and IBM are building quantum computers, while the U.S. government’s NIST group created new security standards in 2024 to fight quantum hacks. These standards help projects like QRL and Algorand stay safe. Big tech and governments are pushing quantum tech forward, making quantum-safe crypto more urgent.
How to Invest in Quantum Cryptocurrency
To engage with quantum cryptocurrency:
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Choose Quantum-Resistant Coins: Invest in QRL (~0.38), Algorand, or Nervos (CKB) via exchanges like Coinbase or Binance. Check fees, they’ll typically be under 1%.
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Secure Wallets: Use hardware wallets supporting PQC signatures, like QRL’s wallet, and enable 2FA. Never share private keys!
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Report Scams: Fraudulent quantum crypto projects are rising. Report suspicious activity to ic3.gov or local regulators.
The Future of Quantum Cryptocurrency
In 2025, quantum cryptocurrency is growing fast. More projects are adopting quantum-safe security, and big names like Ethereum are planning upgrades. People on social media are buzzing about tokens like $QC, but they also warn about fakes. By 2030, quantum computers might be stronger, so coins like QRL and Algorand could become more popular to keep your money safe.
FAQ: Understanding Key Terms
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Quantum Computers: Super-powerful computers that use special science (quantum physics) to solve problems much faster than regular computers. They could one day hack regular crypto, but they’re not strong enough yet.
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Post-Quantum Cryptography (PQC): A new type of security that uses math puzzles so tough that even quantum computers can’t crack them. It’s like an unbreakable lock for your crypto.
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NIST: The National Institute of Standards and Technology, a U.S. government group that sets rules for secure technology. In 2024, NIST created new PQC standards to keep crypto safe from quantum hacks.
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XMSS: A special security lock (called eXtended Merkle Signature Scheme) used by QRL to protect your money from quantum computers. It’s like a super-strong password.
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Falcon: Another security lock (a type of digital signature) used by Algorand to keep its blockchain safe. It’s designed to stop quantum hacks.
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Digital Wallet: A phone app or device (like a USB) that stores your crypto securely, like a digital piggy bank. You need a private key (a secret code) to open it. Never share this private key with anyone.
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Two-Factor Authentication (2FA): A security step where you use combinations of two things. So a combination of a password and a code sent to your phone to prove it’s you when accessing your account.
Crypto
Kazakhstan to Tighten Cryptocurrency Regulation Following $15 Billion Capital Outflow – The Astana Times

ASTANA – The National Bank of Kazakhstan is preparing a comprehensive legislative framework to regulate the circulation of digital assets, following the withdrawal of approximately $15 billion in crypto assets from the country due to insufficient regulatory oversight. This was announced by Deputy Chairman of the National Bank Berik Sholpankulov during a May 22 press briefing.
Photo credit: Shutterstock
Sholpankulov noted that the absence of a well-structured legal and administrative environment had led to significant capital outflows, undermining the safety and transparency of citizens’ digital asset transactions. In response, the National Bank, in collaboration with relevant state bodies, has developed legislative amendments to strengthen oversight and introduce criminal and administrative liability for the illegal movement of funds, reported Kazinform.
The proposed regulatory framework comprises two main components. The first defines the legal status and procedures for issuing and using digital financial assets. The second introduces a licensing regime for service providers involved in the exchange of unsecured cryptocurrencies. In parallel, a regulatory sandbox is being established to allow market participants to pilot innovative services and technologies in a controlled environment.
In response to a proposal to establish a digital reserve under the National Bank for confiscated crypto assets, Sholpankulov clarified that crypto assets are treated as property in accordance with legal provisions. As such, any confiscated assets are subject to existing procedures managed by the Ministry of Finance and its State Property Committee, which is responsible for their valuation, sale, and allocation to the state budget. He concluded that there is no justification for the creation of a separate digital reserve under the National Bank.
Crypto
Police log: cryptocurrency financial scam, traffic stop arrests – TownLift, Park City News

Photo: Unsplash // Scott Rodgerson.
Monday, May 12
Incident: Traffic Hazard
A semi got caught on a stop sign on the corner of Wheaton Way and Royal Street W while trying to make a right hand turn. The stop sign was damaged as a result.
Similar Reads On TownLift
Tuesday, May 13
Incident: Drugs
Deputies stopped a vehicle after a registration check revealed that the vehicle was not insured. During the stop, it was discovered that the male driver had four active statewide warrants for his arrest. The male was taken into custody and his vehicle was state tax impounded. During an inventory of the vehicle, a user amount of marijuana was located, as well as drug paraphernalia. The arrested male was ultimately booked into the Summit County Jail for drug related charges and his outstanding warrants.
Wednesday, May 14
Incident: Warrant
Deputies observed a vehicle that had a broken headlight traveling southbound on SR 224. Deputies conducted a traffic stop and during the stop noticed that the driver of the vehicle had a State-Wide Warrant out for their arrest. Deputies arrested and transported the driver to the Summit County Jail without incident. The vehicle was later picked up by a licensed driver.
Friday, May 16
Incident: Wildlife Crossing
A large herd of elk tried to cross SR 224 near Meadows Drive.
Saturday, May 17
Incident: Scam
Deputies contacted a complainant regarding a report of a financial scam involving cryptocurrency. The complainant reports being defrauded of approximately $15,000 USD through a fraudulent investment scheme facilitated via cryptocurrency platforms. This case will be referred to investigations for further follow-up.
Incident: Domestic Violence
Deputies responded to an assault incident at the given location. After an investigation it was determined that domestic violence assault had occurred. The suspect was arrested and booked into the Summit County Jail.
Incident: DUI
Deputies initiated a traffic stop at N Silver Springs Dr and Little Lake Dr. Deputies smelled a strong odor of alcoholic beverage coming from the vehicle and the driver. After an investigation, the driver was transported to the jail and then released on a citation for DUI.
Sunday, May 18
Incident: Vandalism
Deputies responded to High Valley Transit Center for reports of a broken glass door. The victim was able to provide a screenshot of a possible suspect. Deputies later found and identified the vandal and he was taken in for questioning.
Read our full article on this police story.
Incident: Drugs
Deputies initiated a traffic stop. During the records check, a deputy’s dog alerted on the vehicle. During a search of the occupants and vehicle, controlled substances and drug paraphernalia were discovered. Both subjects were arrested and booked into Summit County Jail.
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