Global #creditors

The Mt Gox saga takes another turn as the troubled cryptocurrency exchange announces yet another delay in repayments to creditors, now pushed back to 2025.

Bankrupt crypto lender Celsius Network has achieved a significant milestone by completing payouts to approximately two-thirds of its creditors, despite encountering numerous challenges throughout the distribution process.

In a move that has captured the attention of the cryptocurrency community, a crypto wallet recently received a substantial infusion of Bitcoin, valued at $2 billion, from the Mt. Gox exchange’s trustee.

On July 31, 2024, Nobuaki Kobayashi, the Rehabilitation Trustee for the defunct Mt. Gox exchange, announced a significant milestone: the completion of repayments to a substantial portion of the creditors. The exchange has successfully returned Bitcoin and Bitcoin Cash to over 17,000 creditors, with the process facilitated through exchanges such as Kraken and Bitstamp.

Renowned cryptocurrency analyst and trader Crypto Jelle has provided observations on the price movements of Bitcoin, the leading digital asset, highlighting the emergence of a robust bullish flag pattern.

Mt. Gox, the now-defunct crypto exchange, has initiated a transaction involving more than 75,000 Bitcoin (BTC), which is valued at around $5 billion. This transaction is significant as it represents the first movement of these funds in over five years, stirring reactions across crypto markets.