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Impact of Mt. Gox transfers on cryptocurrency market stability by end of 2024
3
Resolution / Starting Odds
Positive impact • 33%
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Negative impact • 34%
Market analysis reports and cryptocurrency news
Story
Mt. Gox Transfers 43,000 BTC Worth $3B for First Time in Six Years
May 28, 2024, 03:04 AM
Mt. Gox, the defunct cryptocurrency exchange, has initiated significant transfers of Bitcoin for the first time in over six years. Approximately 43,000 BTC, valued at around $3 billion, have been moved to various new wallets, including the address 1JbezDV. The total amount transferred so far includes multiple transactions such as 3,999 BTC ($277.65 million), 8,239 BTC ($565.71 million), 14,057 BTC ($966.33 million), 16,589 BTC ($1.14 billion), 32,137 BTC ($2.18 billion), and 32,499 BTC ($2.2 billion). The Mt. Gox wallets still hold approximately 139,700 BTC, worth about $9.5 billion. This activity is part of the process to distribute the remaining holdings, totaling 142,000 BTC, to creditors before October 31, 2024. The total BTC accumulated in the new wallet is now 107,547 BTC.
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