Bitcoin Cash

Bitcoin

Silk Road

Elon Musk

<div class="finbold">
 <p class="paragraph">The Tokyo-based cryptocurrency exchange that collapsed in 2014, MtGox, has notified some of its <a rel="noopener noreferrer nofollow" title="creditors" href="https://thebittimes.com/tag/creditors.html">creditors</a> that it would begin repaying them “shortly”. The company that postponed the repayment deadline on multiple occasions now apparently plans to start them before 2023 is out and complete them during 2024.</p>
 <div></div>
 <p class="paragraph">In the following weeks and months, <a rel="noopener noreferrer nofollow" title="creditors" href="https://thebittimes.com/tag/creditors.html">creditors</a> will receive 142,000 Bitcoin (BTC), 143,000 Bitcoin Cash (BCH), ¥69 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> – worth more than $5.67 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> in total at the time of writing – along with other assets, according to an X post by crypto journalist Colin Wu.</p>
 <p class="paragraph">MtGox also specified that <a rel="noopener noreferrer nofollow" title="creditors" href="https://thebittimes.com/tag/creditors.html">creditors</a> whose chosen payment methods were assessed as “effective at this time” would receive repayments. The bankrupt company asked customers affected by its collapse to select a preferred payment method in the leadup to its previously anticipated repayment deadline in January 2023.</p>
 <h2 class="wp-block-heading" id="h-mtgox-could-cause-downward-pressure-for-btc">MtGox could cause downward pressure for BTC</h2>
 <p class="paragraph">MtGox repayments have been eagerly and anxiously awaited for years. The exchange opened in 2010 and lost about 850,000 BTC – worth $500 million at the time – to unknown hackers by 2014. The theft caused the exchange to shut down and, in turn, affected approximately 24,000 users. The total value of the stolen cryptocurrency, based on the price at the time of publication, is approximately $31 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>.</p>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/22/6339871707ed6b67ca6e8eb903c813c5.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="could-bitcoin-reach-220-000-within-the-next-halving">Could Bitcoin reach $220,000 within the next halving?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/21/6fb904da65a384974e50ece1a520ba11.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Banking 
       <h3 class="font-bold leading-6 " id="santander-bolsters-crypto-offering-to-account-holders-in-switzerland">Santander bolsters crypto offering to account holders in Switzerland</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/22/b9dda59ea64b55ef7eeccf15d4c6881b.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="elon-musk-predicts-prosperity-for-argentina-with-new-pro-bitcoin-president">Elon Musk predicts prosperity for Argentina with new pro-Bitcoin president</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/22/eb01b6db192f75a31ca678f56d67c637.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="rich-dad-r-kiyosaki-hyperinflation-led-to-hitler-s-rise-bitcoin-is-best-defense">‘Rich Dad’ R. Kiyosaki: Hyperinflation led to Hitler’s rise, Bitcoin is best defense</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/22/136c4be897f12e73fbbb2d7ca962016b.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="should-you-buy-bitcoin-while-it-is-above-30-000">Should you buy Bitcoin while it is above $30,000?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Since then, around 200,000 BTC has been recovered, and the repayment deadline has been pushed back multiple times – most recently from October 31, 2023, to October 31, 2024. Some experts have expressed their concerns over the repayments throughout the years.</p>
 <p class="paragraph">While the number of Bitcoins to be returned is very small compared to the entire circulating supply, its sudden reintroduction into the market could cause noticeable downward pressure that could trigger a selloff.&nbsp;</p>
 <p class="paragraph">Similar concerns have been raised over FTX’s recently-announced plans to offload $100 million worth of cryptocurrencies each week and over the U.S. government’s sale of approximately 40,000 BTC seized from the Silk Road – a dark web marketplace.</p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/mt-gox-to-distribute-5-67-billion-to-rehabilitation-creditors-shortly-tbt71186.html">https://thebittimes.com/mt-gox-to-distribute-5-67-billion-to-rehabilitation-creditors-shortly-tbt71186.html</a></p>

Mt. Gox to distribute $5.67 billion to rehabilitation creditors ‘shortly’

Table of Contents

TheBitTimes

Other articles published on Nov 22, 2023

How Will the Launch of Metacade’s Mainnet Compare to Cardano Price Trends in 2024?

Altcoins falling after Binance CEO resigns; 5 crypto alternatives to consider

What Are The 100x Top Meme Coins Of 2023 That Deserve Your Attention? Exploring Shiba Inu, Dogeco...

Binance Coin (BNB) Price Analysis for November 22

Dogecoin eyes $0.1 as Kaspa bulls target $0.5 in 2023; whales turning to Everlodge

The Future of Binance: Challenges and Opportunities in the Crypto Market

Join our free newsletter for daily crypto updates!