Mt. Gox, the crypto exchange that collapsed in 2014, recently moved 11,834 BTC, valued at approximately $930 million, to new wallets. This follows a $1 billion internal reshuffling of assets last week. According to Arkham Intelligence, $26 million of this Bitcoin was directed to an “operations wallet,” likely for creditor distribution, while the remainder went to a “change wallet.” The exchange also transferred $15 million to BitGo, a crypto custodian, for asset distribution. These movements have influenced Bitcoin prices, with traders anticipating selling pressure as Mt. Gox prepares to pay out billions to creditors after a decade-long wait. The deadline for these repayments has been extended to October 31, 2025, providing some relief from immediate market pressure.
Merlijn The Trader
@MerlijnTrader
·
Mar 10 Mt. Gox Moves $1 BILLION in Bitcoin!
The bankrupt exchange just transferred 11,834 $BTC ($1.07B) its first major move since January.
Could this be why Bitcoin dumped?
BITCOINLFG®
@bitcoinlfgo
·
Jul 5, 2024 BIG BREAKING
MT. GOX HAS STARTED MOVING
BITCOIN.47,229 #BITCOIN AMOUNTING
TO $2.7 BILLION HAS BEEN MOVED
FROM MT. GOX WALLET.
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