Mt Gox begins debt repayment with Bitcoin BTC and Bitcoin Cash BCH
The bankrupt exchange has commenced repaying creditors through designated cryptocurrency exchanges, pursuant to a repayment plan.
Formerly the world’s largest cryptocurrency exchange, Mt. Gox collapsed in 2014 and is now striving to repay creditors. The repayment process began on July 5, 2024, involving funds disbursed in Bitcoin (BTC) and Bitcoin Cash (BCH). This marks a significant milestone in the exchange’s prolonged bankruptcy proceedings, although concerns loom as approximately $7 billion worth of Bitcoin remains in cold wallets, potentially affecting market sentiment amid fears that creditors receiving Bitcoin may flood the market, causing further price declines.
(BTC 55K ETH 2900! Market continues to collapse, on-chain transactions surge, sentiment turns fearful.)
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