Mt Gox has started to repay some creditors in bitcoin and bitcoin cash on Friday, its rehabilitation trustee said.
The trustee said in an announcement today that the repayments are made through a part of the designated crypto exchanges based on the rehabilitation plan. Repayments to eligible creditors will be "promptly made" if they meet certain conditions, including confirmation of the validity of registered accounts, acceptance of the intention to subscribe to an agreement by designated crypto exchanges, as well as completion of discussions with the trustee.The repayment announcement comes after Mt Gox moved 47,228.
The price of bitcoin plunged below $54,000 at one stage today, and the largest cryptocurrency is currently trading at $54,363, down 7.6% over the past 24 hours, according to The Block's bitcoin price page. The broader crypto market saw over $665 million liquidations across centralized exchanges in the past 24 hours as bitcoin faces heavy selling pressure with Mt Gox continuing to make movements for payout, according to Coinglass data.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space.
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