Last Week in Review: The Mt. Gox effect, and odds of Trump victory at ATH on Polymarket

All the important news, numbers and events from the world of crypto in three bullet points or less. 

News from the block

Mt. Gox moved more coins

• The defunct exchange moved another $6 billion worth of Bitcoin, which many believe is part of the ongoing strategy to reimburse investors who lost their crypto when the exchange was hacked in 2014.
  

• Mt. Gox still holds nearly 139,000 coins worth over $8.75 billion at current prices, according to Arkham, The Block reported.
  
  
• The price of bitcoin dropped from roughly $65,000 to around $63,000 in the hours surrounding the latest transfers.

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Trump’s odds of victory reach ATH on Polymarket after shooting

• “The former president, who was injured at a rally in Pennsylvania on Saturday, now has a 70% chance of retaking the White House, according to traders on the crypto-based prediction market,” CoinDesk reported. 

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Positive June CPI numbers made the case for September rate cut

• “U.S. consumer prices unexpectedly fell in June and the annual increase was the smallest in a year, reinforcing views that the disinflation trend was back on track and drawing the Federal Reserve another step closer to cutting interest rates,” Reuters reported.
  
  
• “These are good numbers, obviously, and (this report is) good news for the Fed. It’s good news for the consumer and good news for the economy. Powell has been indicating a rate cut in September. These numbers sell that,” Peter Cardillo, Chief Market Economist at Spartan Capital Securities commented to the publication.

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Goldman Sachs to expand tokenisation projects

• Goldman Sachs intends to expand its crypto offerings to tokenisation, where real-world assets such as money market funds and real estate holdings are issued on public or private blockchains, according to Fortune.
  

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