Decade-Long Wait Ends: Mt. Gox to Begin $9 Billion Bitcoin Distribution in July
On June 24, 2024, the Mt. Gox bankruptcy trustee announced that repayments to creditors will begin in early July.
The distribution will include approximately $9 billion in bitcoin (BTC) and $50.8 million in bitcoin cash (BCH). Sent to designated exchanges. This marks the end of a ten-year wait for creditors since Mt. Gox ceased operations in February 2014. After recovering 202,000 BTC in March 2014, the trustee assured that significant efforts have been made to ensure secure and compliant payments.
Following the announcement, bitcoin prices briefly dropped to $60,580 but have since stabilized above $61,000.
Clever Robot News Desk 25th June 2024
