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Mt. Gox Extends Repayment Deadline to 2025, Easing Supply Overhang Concerns with $2.8 Billion Bitcoin
Oct 11, 2024, 07:07 AM
Mt. Gox, the Tokyo-based Bitcoin exchange that was hacked in 2014 leading to its bankruptcy, has announced an extension of its repayment deadline for creditors by one year. The new deadline is now set for October 31, 2025, instead of the previous deadline of October 31, 2024. This decision could allay concerns of a supply overhang, as Mt. Gox still holds $2.8 billion worth of Bitcoin after distributing about $6 billion worth of assets to creditors earlier this year.
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