For 10 years crypto money major cryptocurrency markets fuel fear hack Returns are being made following the incident. The excess supply in the markets due to the return of billions of dollars of assets did not push prices down to the extent feared, as we are in one of the best periods of the cycle. The good news is that the big FUD is over.
Mt Gox Breaking News
The Mt Gox board of trustees, which announced that payments will begin in July 2024, has been on the exchanges for almost 2 months. BTC The committee, which transferred hundreds of millions of dollars of assets to the stock exchanges at once, announced that the refunds were almost completed. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
The exchange announced today that 19,000 creditors have been paid. The estimate was that there were 24,000 creditors in total. However, there is a strong possibility that not all of them will be able to meet the legal requirements to receive a refund. Therefore, the Mt Gox team reached an agreement with 6 exchanges and asked the creditors to fulfill the conditions.
The last statement is as follows;
“Following the numerous repayments in July 2024, on August 21, 2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to certain rehabilitation creditors through certain Designated Cryptocurrency Exchanges, etc., pursuant to the Rehabilitation Plan. As a result, the Rehabilitation Trustee has made repayments in Bitcoin and Bitcoin Cash to over 19,000 rehabilitation creditors to date.
Repayments to other rehabilitation creditors will be made promptly after the following conditions are met: (i) Rehabilitation creditors make necessary corrections to registered accounts and complete necessary transactions; (ii) confirm the validity of registered accounts and other matters; (iii) acceptance of the intention to subscribe to the Agency Receipt Agreement by the Designated Cryptocurrency Exchanges etc.; (iv) agreement between the Rehabilitation Trustee and the Designated Cryptocurrency Exchanges etc.; and (v) confirm that refunds can be made safely and securely.”
According to this statement, we learn that the remaining $2.7 billion in BTC in the hands of the Mt Gox board belongs to creditors who have not completed the terms. They may be dead or unaware that they will fulfill the terms. They may be old. There are many reasons. So we can say that “refunds are almost complete” and it can be assumed that the entire $2.7 billion maximum extra supply will not be transferred to exchanges in the following period.
So the 10-year FUD is officially over and crypto can breathe easy.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
