Mt. Gox imploded with hundreds of thousands of bitcoins almost ten years ago. Following a lengthy legal procedure dealing with funds subsequently recovered from the exchange, the appointed rehabilitation trustee, Nobuaki Kobayashi, announced on July 6 that he was “preparing to make repayments” to creditors.
In documentation at the time, Kobayashi gave “the end of August” as a reference period during which some initial payments might begin. “Following discussions with the Court and in accordance with the Rehabilitation Plan, the Rehabilitation Trustee plans to set the Assignment, etc. Restriction Reference Period from approximately the end of August this year until all or part of the repayments made as initial repayments is completed for safe and secure Repayments,” part of it read.
With no new official information appearing on the dedicated website covering the rehabilitation proceedings, however, it remained unclear as to why the sell-off rumors had gained so much traction so quickly. For trader and analyst Josh Rager, meanwhile, even if the full hoard of BTC were sold at once, the resulting selling pressure would not create the kind of apocalyptic event some imagined.
Its FUD! MtGox is NOT releasing coins Aug 28. 'Creditors haven't even registered for payout. Once that happens it will probably be another couple months.' Source: Mt Gox creditor Other creditors comments: