2024

Bitcoin

Million

Arkham

<ul class="news-points"> 
 <li>Mt. Gox initiates $2 billion Bitcoin distribution to 2014 hack victims.</li> 
 <li>Bitcoin whale withdraws $387 million from Binance, signaling potential market rally.</li> 
 <li>Bitcoin price fluctuates amidst Mt. Gox payouts and whale activity.</li> 
</ul> 
On-chain data reveals significant activity in the Bitcoin market, including a <a href="https://x.com/ArkhamIntel/status/1817962145985724629" target="_blank" rel="nofollow">transfer of $2 billion</a> worth of BTC by the defunct Mt. Gox crypto exchange to a new wallet, as identified by Arkham Intelligence. Lookonchain, the crypto analysis platform, also spotted massive BTC withdrawals from the centralized crypto exchange Binance. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Whale"12QVsf" withdrew 1,300 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a>($85.56M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Binance</a> again in the past 30 minutes! The whale has withdrawn 5,800 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a>($387.88M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Binance</a> in the past 2 days! Address: 12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo<a href="https://t.co/W3vpJUThry" target="_blank" rel="nofollow">https://t.co/W3vpJUThry</a> <a href="https://t.co/K4mpBjQaZS" target="_blank" rel="nofollow">pic.twitter.com/K4mpBjQaZS</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1818529334208131158?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">July 31, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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According to reports, the $2 billion transfer was part of the Bitcoins Mt. Gox planned to redistribute to creditors affected by the infamous 2014 hack. This leaves the collapsed exchange’s wallet with a <a href="https://platform.arkhamintelligence.com/explorer/entity/mt-gox" target="_blank" rel="nofollow">balance of 80,128 BTC</a>, equivalent to approximately $5.32 billion, at the time of writing. 
Meanwhile, Lookonc…
The post <a href="https://coinedition.com/bitcoin-whale-cashes-out-387-million-as-mt-gox-begins-btc-distribution/">Bitcoin Whale Cashes Out $387 Million as Mt. Gox Begins BTC Distribution</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Whale Cashes Out $387 Million as Mt. Gox Begins BTC Distribution

Coin Edition

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