Mt. Gox repayment shakes crypto market, causing volatility
Bitcoin faces immense volatility as Mt. Gox repayments flood the market.
In a long-awaited move, Mt. Gox, the infamous Bitcoin exchange that collapsed in 2014, has finally started repaying its creditors.
This resolution to one of crypto’s most notorious scandals is not just closing a chapter to one of Bitcoin’s darkest hours but is also actively shaping the asset’s market dynamics in real time.
On July 5, Nobuaki Kobayashi — the rehabilitation trustee for Mt. Gox — announced the commencement of debt repayments to creditors in Bitcoin (BTC) and Bitcoin Cash (BCH). The repayments are facilitated through a complex network of exchanges, with each entity playing a crucial role in distributing the funds.
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Author: Shiraz Jagati
