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MT GOX creditors set to receive $3bn Bitcoin, but could it crash the market?

Bitcoin down 5 ahead of Mt Gox payouts

Bitcoin dropped by 5% in the past week amidst speculation that upcoming creditor payouts from the now-bankrupt MT Gox exchange could have a negative impact on the cryptocurrency market. The civil rehabilitation trial for the Tokyo-based bitcoin exchange concluded this week, which means creditors are set to receive their distributions starting on March 10. Concerns […]

Tokyo court postpones Mt Gox Bitcoin settlement date to October 15

Bitcoin trust

Again, the deadline for the now-defunct Mt Gox Bitcoin settlement has been postponed by the Tokyo District Court. This is coming after the Rehabilitation Trustee filed for an additional extension of the date. Thus, the new date has been fixed to October 15. Mt Gox Bitcoin settlement deadline postponed On June 30, Nobuaki Kobayashi, who […]

Gox Rising to buy Mt Gox creditors’ Bitcoin claim for $800 per BTC

bitcoin

A new relief plan has been drafted for the Investors of the now-closed Japanese bitcoin exchange Mt Gox. Per a report today, Gox Rising, a company based in Puerto Rico, is seeking to engage with Mt Gox creditors in an effort to purchase their Bitcoin claims. The road to recovery of Mt Gox creditors’ fund […]

Mt Gox rehab proposal hits a snag due to opposition by creditors

Mt Gox rehab proposal hits a snag due to opposition by creditors

Mt Gox rehab proposal has hit a snag again after the submission deadline was pushed after receiving a negative response from many creditors. The meeting took place last week where a proposal was put in front of the creditors. It said that the creditors can have their reimbursement in Bitcoin but it might be possible […]

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