Mt. Gox's Looming $9B Payout Could Weigh on Bitcoin Prices, K33 Research Warns

oggle.eth@newsletter.paragraph.com (oggle.eth) — Tue, 23 Apr 2024 19:25:58 GMT

The defunct crypto exchange will distribute 142,000 BTC and 143,000 BCH to creditors later this year, 10 years after its implosion due to a hack.

"Mt. Gox coins could become a relevant negative price contributor in the next weeks," authors Anders Helseth and Vetle Lunde wrote.

The warning comes as creditors saw their BTC and BCH claims were being updated recently in the Mt. Gox claim filing system, a development that could foreshadow upcoming payments earlier than previously expected. The trustees of the defunct exchange last year set an Oct. 31, 2024 deadline to reimburse creditors.

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oggle.eth@newsletter.paragraph.com (oggle.eth) — Fri, 22 Sep 2023 11:44:20 GMT

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