Kraken Finalizes Distribution of Mt. Gox Bitcoin and Bitcoin Cash to Creditors

Crypto exchange Kraken has completed the distribution of bitcoin (BTC) and bitcoin cash (BCH) from the Mt. 

Gox estate to creditors, concluding a decade-long process. Kraken received 48,641 BTC, valued at over $3 billion, from the Mt. Gox Rehabilitation Trustee last week. CEO David Ripley praised the Trustee for preserving the coins’ value despite legal challenges and expressed gratitude for the opportunity to facilitate the repayment. He reflected on Kraken’s mission and thanked clients and industry pioneers for their support. 

Meanwhile, Cryptoquant CEO Ki Young Ju noted that there has been no significant increase in BTC trading volume or outflows on Kraken since the distribution.

Clever Robot News Desk 26^th July 2024