Mt. Gox, the defunct crypto exchange, has moved $930 million worth of bitcoin (BTC) to new wallets, signaling a possible resumption of creditors' payouts. This transfer comes after an earlier internal reshuffling of assets worth $1 billion and a $15 million transfer to BitGo, a crypto custodian involved in the distribution process. Currently, Mt. Gox wallets hold $2.9 billion in assets, slated for payout to creditors by October 31, 2025. Amidst ongoing market corrections, this news raises concerns about potential selling pressure as the estate prepares to repay remaining creditors. Last week, Bitcoin had already seen a significant price decline of nearly 30% from its January highs, exacerbating fears tied to the upcoming asset distributions. Arkham Intelligence reported that part of the recent BTC transfer was directed toward an operations wallet, aimed at preparing for the disbursement to creditors, while the remainder moved to a change wallet. These activities follow a decade-long wait for creditors following the exchange's collapse in 2014.

Source 🔗