- BitMEX is sending a 1 BTC physical bitcoin to the Moon in February 2024 aboard the Peregrine-1 lander, proving Bitcoin’s potential.
- Core Scientific reached a $10 million settlement over claims related to 70,000 non-existent miners it failed to deliver to Gryphon Digital Mining.
- The SEC is expected to make a decision on spot Bitcoin ETF filings by January 10th, with many anticipating approvals that could bring significant capital inflows.
Crypto exchange BitMEX is making history by sending the first ever financial asset to the Moon – a physical bitcoin loaded with 1 BTC. The coin will travel aboard the Peregrine-1 lunar lander and reach the Moon in February 2024, proving the potential of Bitcoin and blockchain technology. In other news, Core Scientific reaches a settlement over claims related to non-existent miners, the Bitcoin ETF approval window opens, and John Lilic joins the Telos Foundation.
BitMEX Sending Physical Bitcoin to the Moon
BitMEX’s physical Bitcoin weighs 43g and is loaded with 1 BTC. It will launch on January 8 at 02:18 am ET alongside other payloads from NASA’s Commercial Lunar Payload Services initiative. The coin is engraved with a public address and private key. It will remain on the lunar surface, allowing individuals to send messages and Satoshi’s to the Moon.
The mission is a collaboration between BitMEX, Astrobotic, Bitcoin Magazine, and Oxcart Assembly. BitMEX CEO Stephan Lutz says it represents the first step in creating a monetary system for space. The Bitcoin will travel aboard the Vulcan rocket integrated into the Peregrine-1 lander. After reaching the Moon in February, it will stay on the surface indefinitely.
Core Scientific Settling Claims Over Non-Existent Miners
Troubled Bitcoin mining company Core Scientific reached a settlement with Sphere 3D and Gryphon Digital Mining over a $34 million unsecured claim related to 70,000 non-existent miners. This comes as Core Scientific approaches its bankruptcy exit hearing.
The claim stems from a hosting contract where Gryphon agreed to provide 70,000 miners to Core Scientific but failed to deliver due to lack of funding. After ending their merger plan, Sphere requested return of a $10 million deposit from Core Scientific.
Although the miners were never delivered, Core Scientific made a $35 million prepayment. After filing for bankruptcy, Sphere submitted a $34 million claim which will now be settled for $10 million.
Bitcoin ETF Approval Window Now Open
The approval window for spot Bitcoin ETF filings opened January 5th, with the SEC expected to respond by January 10th. Many anticipate approval of the 21Shares filing, potentially triggering a cascade of approvals. The introduction of Bitcoin ETFs could bring significant capital inflows and improve market infrastructure.
John Lilic Becomes Telos Foundation Executive Director
The Telos Foundation appointed John Lilic as Executive Director. He will represent Telos at conferences and develop partnerships as it evolves into a Layer 0 network. Lilic has experience across crypto, helping build MetaMask at ConsenSys and advising Polygon. He will now lead educational initiatives at Telos focused on zero-knowledge technology.
The coming years promise to be defining for Bitcoin, with major milestones like the first lunar transfer demonstrating its versatility. Meanwhile, markets await ETF approval that could kickstart the next bull run. Despite bankruptcies, pioneering crypto companies like Core Scientific show the ecosystem is maturing. With leaders like John Lilic emerging, the future looks bright for blockchain innovation.