Nobuaki Kobayashi, the trustee overseeing the Mt. Gox rehabilitation process, has received approval from the Tokyo District Court to extend the repayment deadline for the bankrupt exchange's creditors.

Payments giant PayPal has announced that its PayPal USD (PYUSD) stablecoin is now available to users on Venmo in a move that comes roughly six weeks after the firm launched its own stablecoin, issued by Paxos Trust.

The California-based Stanford University has announced it plans to return all of the funds it received from the collapsed cryptocurrency exchange FTX. The renowned institution received a total of $5.5 million in gifts from FTX between November 2021 and May 2022.

Sponsored:  B2BinPay, a reputable platform in the market, has enabled cross-border cryptocurrency transactions for businesses and merchants. B2BinPay is renowned for its simplicity of integration, making it easy for companies to interact with the developing cryptocurrency market.

Top stories in the Crypto Roundup today:

• Gox Creditors to Wait Until 2024 for Bitcoin Repayment
• PayPal Launches PYUSD Stablecoin on Venmo
• Stanford University to Return FTX Donations Worth $5.5 Million
• ETH Options Volume on CME Hits All-time High in August
• Sponsored: B2BinPay v17 Upgrade – A New Stage In Crypto Payment Systems

Mt. Gox Creditors to Wait Until 2024 for Bitcoin Repayment

Nobuaki Kobayashi, the trustee overseeing the Mt. Gox rehabilitation process, has received approval from the Tokyo District Court to extend the repayment deadline for the bankrupt exchange's creditors.

Initially set for October 31, 2023, creditors may now have to wait until October 31, 2024 for the anticipated payout. The decision was revealed in a letter Kobayashi wrote that detailed the adjustments to the timeline for the base, early lump-sum, and intermediate repayments.

Per the announcement, Kobayashi explained that for rehabilitation creditors who have provided the necessary information, sequential repayments will commence as soon as the end of this year.

The Mt. Gox estate currently holds around 142,000 Bitcoin, 143,000 Bitcoin Cash, and 69 billion Japanese yen. Mt. Gox was the leading cryptocurrency exchange that at one point was responsible for over 70% of all BTC trades, before it collapsed after a substantial security breach.

PayPal Launches PYUSD Stablecoin on Venmo

Payments giant PayPal has announced that its PayPal USD (PYUSD) stablecoin is now available to users on Venmo in a move that comes roughly six weeks after the firm launched its own stablecoin, issued by Paxos Trust.

PYUSD is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents, and is now available to “select users” on PayPal’s Venmo and is set to roll out fully in the coming weeks.

In its announcement, the payments giant noted that Venmo users will be able to buy PYUSD on the platform and send it to friends and family through it, through PayPal, or using compatible external wallets. The firm wrote:

“In the first example of a stablecoin enabling wallet interoperability at scale with no cost, transfers between PayPal and Venmo users are fast and free, connecting two wallets with millions of users each.”

PYUSD will also be usable as payment method, as long as compatible external wallets or PayPal’s own platforms are used. The stablecoin was included by the New York State Department of Financial Services in its greenlist of coins shortly after launch.

Stanford University to Return FTX Donations Worth $5.5 Million

The California-based Stanford University has announced plans to return all of the funds it received from the collapsed cryptocurrency exchange FTX. The renowned institution received a total of $5.5 million in gifts from FTX between November 2021 and May 2022.

In a statement, a spokesperson said that Stanford has been in “discussions with attorneys for the FTX debtors to recover these gifts and we will be returning the funds in their entirety.”

The statement details these gifts were “largely for pandemic-related prevention and research.” Notably, the parents of FTX’s co-founder and former CEO Sam Bankman-Fried, Alan Bankman and Barbara Fried, are legal scholars who taught at Stanford Law School.

Stanford’s announcement comes shortly after the managers behind the FTX estate sued Bankman-Fried’s parents to “recover millions of dollars in fraudulently transferred and misappropriated funds.”

ETH Options Volume on CME Hits All-time High in August

In August, ETH options trading volume on the CME experienced a remarkable surge, climbing by 77% to set a record at $365 million. Meanwhile, BTC options volume also showcased substantial growth, escalating by 18.8% to $872 million.

The exchange noted a 4.51% rise in derivatives trading activity, wrapping up the month with a total of $41.9 billion.

Dig deeper into the world of cryptocurrency trading with CCData’s latest Exchange Review report.

B2BinPay v17 Upgrade – A New Stage In Crypto Payment Systems

B2BinPay, a leading cryptocurrency payment gateway, has announced the launch of B2BinPay v17, a significant update set to revolutionize cryptocurrency payments for businesses and merchants globally.

Expanding Payment Options

B2BinPay v17 introduces support for TrueUSD and Euro Coin within Merchant Wallets, offering merchants a wider range of payment choices. This includes 14 coins, 14 stablecoins, and 25 tokens, all automatically settled in seven major currencies. The compatibility with token standards like ERC20, BEP20, and TRC20 provides greater control over client payments and settlements.

Diverse Currencies for Enterprises

For corporate users, B2BinPay v17 offers access to 14 stablecoins and 113 new tokens across 14 blockchain networks, facilitating diverse payment options.

Streamlined Pricing Model

To promote cryptocurrency adoption, B2BinPay v17 introduces a revised pricing structure. Merchant entry costs are now $500, with a commission fee reduction from 0.5% to 0.4%. New commission tiers, starting at 0.25%, cater to higher transaction volumes, ensuring affordability.

Enterprise blockchain wallet setup fees have decreased from $1,500 to $1,000, covering wallet activation for Ripple, Stellar, Binance Coin, and smart contracts for Ethereum, Binance Smart Chain, and TRON. Transparent fee structures eliminate hidden costs, with new commission levels ranging from 0.4% to 0.05%.

Enhanced User Experience

B2BinPay v17 offers an improved user interface, featuring currency-based filtering, an alphabetical search, and a favorites feature for easy navigation. Comprehensive onboarding materials simplify platform usage for all users.

Seamless Client Service

B2BinPay enhances client service with real-time Helpdesk notifications for support tickets and an unread ticket counter. 

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