Bankrupt Mt. Gox trustee said it is not selling Bitcoin

The Rehabilitation Trustee of the defunct crypto speech Mt. Gox has confirmed that it has not sold its important Bitcoin holdings contempt transferring implicit 140,000 BTC (approximately $10 billion) today.

The trustee clarified successful a May 28 statement that preparations to repay creditors were ongoing. According to the firm, the bankruptcy process volition compensate creditors with fiat currency, Bitcoin, and Bitcoin Cash. While fiat currency payments person already begun, creditors person not received integer plus payments.

It added:

“The Rehabilitation Trustee is presently managing bitcoin and bitcoin currency successful a unafraid manner. As the Rehabilitation Trustee is proceeding with the mentation for the supra repayments, delight hold for a portion until the repayments are made.”

Former Mt. Gox CEO Mark Karpeles explained that the transactions were portion of the organisation process. He stated: He said:

“The trustee is moving coins to a antithetic wallet successful mentation of the organisation that volition apt hap this year, determination is nary imminent merchantability of bitcoins happening.”

Mt. Gox’s Bitcoin and BCH connected the move

Earlier today, the crypto assemblage noticed aggregate transactions from wallets associated with the failed Mt. Gox exchange.

Blockchain analytics level Arkham Intelligence reported that 72 Mt. Gox-linked wallets sent 141,686 BTC successful batches of astir 2,000 BTC to a caller wallet, which received its archetypal transaction of $3.65 connected May 20.

The caller code has since transferred astir 4,022 BTC, worthy implicit $273 million, to different wallets.

Additionally, Mt. Gox-related addresses moved 142,846.22 BCH to an unmarked code labeled 1LG4G. The wallet presently holds 142,824.27 BCH, worthy astir $67.9 million, making it the 11th largest BCH holding address.

This question has led to speculation wrong the assemblage that Mt. Gox mightiness soon commencement repayments. Alex Thorn, the Head of Research astatine Galaxy Digital, suggested this could beryllium the opening of distributions to creditors.

Meanwhile, the transfers appeared to person sent jitters down the market, with Bitcoin’s terms declining beneath $69,000 to $68,392 arsenic of property time. Similarly, BCH’s worth recorded a 4.03% autumn to $470, according to CryptoSlate’s data.

The station Bankrupt Mt. Gox trustee said it is not selling Bitcoin appeared archetypal connected CryptoSlate.