Ethereum

Dogecoin

Solana

Reddit

Bitcoin

<p>The defunct crypto exchange Mt. Gox moved 47,228 Bitcoin worth about $2.7 billion from cold storage to a new wallet address as fears over a mass selloff helped trigger a crypto crash.</p>
<p>Fear, uncertainty, and doubt (FUD) on social media is at ”historic highs,” Santiment <a href="https://x.com/santimentfeed/status/1809070048805597612" target="_blank" rel="noopener noreferrer nofollow">said</a>, as Bitcoin plunged to a four-month low. The global cryptocurrency market capitalization plummeted 9% to dip under $2 trillion.</p>
<h2 id="mt-gox-starts-distributing-bitcoin">Mt. Gox Starts Distributing Bitcoin</h2>
<p>The Mt. Gox rehabilitation trustee plans to distribute $9 billion of Bitcoin to creditors by October.&nbsp;On-chain data shows that the first batch of repayments is already underway after a transfer of 2,702 BTC, worth over $148 million, to the Bitbank exchange.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">25 minutes ago, <a href="https://twitter.com/hashtag/Mt_Gox?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Mt_Gox</a> transferred 2,702 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> (~$148.44M) to <a href="https://twitter.com/hashtag/Bitbank?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitbank</a>.</p>
 <p><a href="https://twitter.com/hashtag/Bitbank?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitbank</a> is one of the exchanges listed for supporting Mt Gox repayments.</p>
 <p>Address:<a href="https://t.co/3KqaREgFtq" rel="noopener noreferrer nofollow">https://t.co/3KqaREgFtq</a> <a href="https://t.co/lK3QcfI84f" rel="noopener noreferrer nofollow">pic.twitter.com/lK3QcfI84f</a></p>
 <p>— The Data Nerd (@OnchainDataNerd) <a href="https://twitter.com/OnchainDataNerd/status/1809086593367748758?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 5, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Some Mt. Gox creditors on Reddit have also <a href="https://www.reddit.com/r/mtgoxinsolvency/comments/1dvrsuf/my_exchange_has_been_credited_japan_based_creditor/" target="_blank" rel="noopener noreferrer nofollow">confirmed</a> that their exchange accounts have received funds.&nbsp;The fears of a massive selloff have not only affected Bitcoin but also altcoins.</p>
<p>Ethereum slumped 9% to around $2,800, while BNB and Solana fell 11% and 6%, respectively. Dogecoin is among the worst-hit major tokens, with the price nosediving more than 14%.</p>
<p>The crypto crash saw over $600 million liquidated from the market in the past 24 hours, according to <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>. That’s the highest since the FTX collapse in November 2022.</p>
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/news/the-bitcoin-price-plunges-below-56k-amid-mt-gox-selloff-fears-and-massive-liquidations-but-traders-still-flock-to-the-99btc-ico" rel="noopener noreferrer nofollow">The Bitcoin Price Plunges Below $56K Amid Mt. Gox Selloff Fears And Massive Liquidations, But Traders Still Flock To The 99BTC ICO</a></li>
 <li><a href="https://insidebitcoins.com/news/solana-price-prediction-sol-plummets-9-amid-the-crypto-crash-but-this-ai-meme-coin-blasts-past-7-million" rel="noopener noreferrer nofollow">Solana Price Prediction: SOL Plummets 9% Amid The Crypto Crash, But This AI Meme Coin Blasts Past $7 Million</a></li>
 <li><a href="https://insidebitcoins.com/news/nft-gaming-is-back-heres-the-five-top-nft-games-to-check-out-in-h22024" rel="noopener noreferrer nofollow">NFT Gaming Is Back – Here’s The Five Top NFT Games To Check Out in H2,2024</a></li>
</ul>

Mt. Gox Moves $2.7 Billion Bitcoin As Selloff Fears Trigger Crypto Crash

Table of Contents

Inside Bitcoins

Άλλα άρθρα που δημοσιεύτηκαν στις 5 Ιουλ 2024

Cash Remains King: Canadians Prefer Traditional Money Over Crypto Options

Just-In: Leading Telecom Company Taiwan Mobile Gets Crypto Exchange License

Own Any of These Top Narrative Altcoins?

Telegram founder: Hamster Kombat token will be launched on TON

Qubetics Whitelist Steps Up Amid Volatility Troubles for Cosmos and Near Protocol

KangaMoon Skyrockets As KANG Goes Live on BitMart While Polygon and Pancakeswap Remain Bearish

Join our free newsletter for daily crypto updates!