Mt. Gox begins repayments in Bitcoin and Bitcoin Cash
The collapsed exchange has started debt repayments to creditors via select crypto exchanges, following the Rehabilitation Plan. Go to Source
Mt Gox
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Mt Gox Trustee Transfers $2.7B in Bitcoin, Creating 19th Largest BTC Wallet
On Thursday, the trustee overseeing the Mt. Gox bitcoins transferred about 47,228.73 BTC to an undisclosed address. The transfer, valued at approximately $2.7 billion, leaves Mt. Gox with around 141,687 BTC worth nearly $8.1 billion. This significant transaction came after several test transfers were conducted earlier on July 4. The trustee had previously announced that … Read more
German MP urges government to stop ‘hasty’ Bitcoin sell-off
German MP Joana Cotar said the mass Bitcoin sell-off isn’t “sensible” and “productive” as it could be used to diversify treasury assets and protect against currency devaluation. Go to Source
Mt. Gox moves $2.7B in Bitcoin to new wallet address
One of Mt. Gox’s cold wallets just transferred more than 47,000 BTC to an unknown wallet address amid a plan to begin repaying its creditors. Go to Source
German Government Still Holds Over 40K Bitcoins After Recent Sale, Onchain Data Shows
The German government has been selling seized bitcoin but still holds more than 40K BTC, worth over $2.3 billion, according to onchain data from blockchain intelligence firm Arkham. These sales are occurring alongside the anticipated Mt. Gox bitcoin distributions. In response to Germany’s BTC liquidation, Tron founder Justin Sun has offered to purchase the remaining … Read more
Bitcoin Hits New Low Since February, Options Market Stays Optimistic
According to the latest data, $305.43 million was liquidated across crypto derivatives exchanges when bitcoin dipped below $57,000. One analyst predicts that with the Mt Gox and German government sell-offs, “supply will likely outstrip demand.” Conversely, QCP Capital notes that despite the current crypto sell-off, the options market remains hopeful. Crypto Liquidation Tops $305M as … Read more
Bitcoin Dips to $56,952 as Market Reacts to Mt Gox and German BTC Moves
On Thursday, July 4, 2024, the price of bitcoin fell below $57,000, reaching a low of $56,952 at 5:20 a.m. EDT. There is widespread speculation about the Mt Gox distribution and the German government’s transfer of approximately 3,000 bitcoin to unidentified wallets, Coinbase, Bitstamp, and Kraken. Bearish Sentiment Grows as Bitcoin Continues to Slide Bitcoin’s … Read more
3 things that can spoil a potentially bullish July for Bitcoin
BTC price is likely to face headwinds in July from Mt. Gox repayments that could result in a “bull pennant” breakdown on the charts. Go to Source
U.S. government sends 3,940 Bitcoin to Coinbase exchange
Data from Arkham Intelligence indicates the Bitcoin was seized from Banmeet Singh, a convicted drug dealer, during his January 2024 trial. Go to Source
Galaxy Digital’s Alex Thorn: Mt Gox Bitcoin Distributions Unlikely to Disrupt Market
After a decade-long wait, creditors of the defunct Mt Gox exchange are set to receive in-kind distributions of bitcoin and bitcoin cash starting in July. The head of research from Galaxy Digital predicts the market impact of these distributions will be less severe than anticipated. Long-Term Bitcoin Holders Likely to Retain Mt Gox Bitcoin Distributions … Read more
