Mt Gox Trustee and Mark Karpeles weigh in on the estate moving $9.8 billion of bitcoin

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 27 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

Markets News

Token Projects,Bitcoin

The former Mt Gox CEO said the bitcoin movements from Mt Gox wallets are to prepare for the distribution that will likely happen this year.

Earlier today, $9.8 billion of bitcoin from multiple wallets associated with Mt Gox was consolidated into a single wallet without prior warning from the Mt Gox Trustee, causing some alarm among creditors."Under the Rehabilitation Plan, the Rehabilitation Trustee is preparing to make repayment for the portion of cryptocurrency rehabilitation claims to which cryptocurrency is allocated," the Trustee said.

"The Rehabilitation Trustee is currently managing bitcoin and bitcoin cash in a secure manner. As the Rehabilitation Trustee is proceeding with the preparation for the above repayments, please wait for a while until the repayments are made," he said. "As far as I know everything is fine with MtGox," said Karpeles on X. "The trustee is moving coins to a different wallet in preparation of the distribution that will likely happen this year, there is no imminent sale of bitcoins happening."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 464. in ERROR

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mt. Gox moves at least $2.9 billion in bitcoin for first time in five yearsThis was the first time in five years that Mt. Gox moved assets out of its wallets, according to data from Arkham Intelligence.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Bitcoin dips 2% as Mt. Gox wallets move over $5B to unknown walletA Mt. Gox labeled Bitcoin address has moved several billion dollars with of Bitcoin to an unknown wallet in less than an hour.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin Price Slides 4% as Mt Gox Distributions Begin With Big BTC MoveCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Mt.Gox Moves $7B Bitcoin as Part of Repayment Plans, Sparking BTC Price PlungeShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Source: CoinDesk - 🏆 291. / 63 Read more »

Bitcoin Plunges as Mt. Gox Starts Distributing Funds to CreditorsWill this be a major bearish catalyst for Bitcoin?
Source: Utoday_en - 🏆 295. / 63 Read more »