news 
Mt.Gox Bitcoin Payout: Exchange Moves $152M Ahead of Major Repayments
The defunct cryptocurrency exchange, Mt. Gox, has begun transferring large amounts of Bitcoin (BTC) to new addresses, signaling progress in creditor repayments ahead of major settlements. The latest move sees a massive transfer of 1,428 BTC, worth approximately $152 million.
According to on-chain data analysis by Arkham Intelligence, the defunct exchange transferred 191.678 BTC, worth around $20.42 million, to a new address bc1q6h…gf9zaa earlier today. This significant transaction is seen as an indication that Mt. Gox is nearing the end of its restructuring process.
The transferred Bitcoin now holds at an astonishing total value of approximately $3.84 billion, with 36,085 BTC remaining for distribution to creditors through various cryptocurrency exchanges.
As the Mt. Gox saga comes to a close, this significant payout has sparked concerns about market volatility. Many experts believe that the distribution of such a substantial amount of Bitcoin could potentially lead to short-term bearish sentiment in the market.
Source: coinpedia.org
