🚨🔥 Mt. Gox Unleashes $930M Bitcoin Fury 🔥🚨
What to know:
- Mt. Gox, that wretched crypto exchange, has moved some $930 million in bitcoin (BTC) to new wallets, potentially signaling a resumption of creditors payout. Ah, the joys of waiting ten years for your money back… 🙄
- The latest transfer follows last week’s $1 billion internal reshuffling of assets and a $15 million transfer to crypto custodian and payout partner BitGo. One wonders if they’re trying to confuse us all with their Byzantine accounting… 🤯
- The recent movements could indicate the estate preparing to repay the rest of the assets to users before the October 31 deadline, reigniting concerns of selling pressure in the midst of a crypto market correction. Because what could possibly go wrong with a bunch of people selling their Bitcoin at the same time? 🤦♂️
Bitcoin (BTC) held by Mt. Gox, that cursed crypto exchange that imploded in 2014, was on the move again on Tuesday following last week’s maneuver, a potential sign of resuming creditors payout after distributing crypto assets worth billions last year. Because who needs stability in the market, anyway? 🤪
A Bitcoin address linked to Mt. Gox transferred 11,834 BTC, worth about $930 million, to new wallets, Arkham Intelligence data showed. Some $26 million of BTC landed on an “operations wallet,” potentially as a preparation for distributing to creditors, while the rest arrived to a “change wallet,” Arkham analysts noted in an X post. One can only imagine the thrill of waiting to see which wallet your money will end up in… 😴
The latest movement came after last week’s $1 billion internal reshuffling of assets, followed by a $15 million transfer to crypto custodian BitGo, which serves as one of the distribution platforms where creditors can claim their assets. One wonders if they’re trying to keep us all on our toes… 🕺
Mt. Gox wallet transfers weighed on BTC prices through mid-2024, as traders braced for selling pressure when the exchange started to pay out assets worth billions of dollars to creditors after ten years of waiting. In October, the trustee managing assets of the exchange postponed the deadline to repay creditors to October 31, 2025, allaying immediate concerns of further pressure. But now, it seems, the cat’s out of the bag… 🐈
The latest movements, however, could foreshadow the estate repaying the rest of the assets to users, reigniting fears of selling pressure when crypto markets are already in the middle of a correction, with BTC declining nearly 30% from record highs in January. Because what could possibly go wrong with a bunch of people selling their Bitcoin at the same time? 🤦♂️
Mt. Gox-linked wallets recently held $2.9 billion worth of BTC, Arkham data shows. One can only imagine the excitement of watching that number tick down… 😴
Read More
- Best Crosshair Codes for Fragpunk
- Enigma Of Sepia Tier List & Reroll Guide
- Monster Hunter Wilds Character Design Codes – Ultimate Collection
- Hollow Era Private Server Codes [RELEASE]
- Wuthering Waves: How to Unlock the Reyes Ruins
- Ultimate Tales of Wind Radiant Rebirth Tier List
- FARTCOIN PREDICTION. FARTCOIN cryptocurrency
- SWORN Tier List – Best Weapons & Spells
- Skull and Bones Timed Out: Players Frustrated by PSN Issues
- Master Wuthering Waves: Conquer All Dream Patrol Trials in Penitent’s End for Epic Rewards!
2025-03-11 19:34