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Mt. Gox Distributes Over 36% of $BTC to Creditors, Kraken to Follow

Jul 22, 2024, 09:35 PM

Over 36% of the total Bitcoin ($BTC) from the defunct Mt. Gox cryptocurrency exchange has been distributed back to creditors. Kraken has notified its customers that it received Bitcoin from Mt. Gox and will distribute the funds within 7-14 days. Approximately $9 billion is set to be distributed to creditors by early August. Another batch of Bitcoin from Mt. Gox might be sent out soon, with 90,000 BTC ($6 billion) still remaining in Mt. Gox wallets. This could potentially lower prices short-term but is expected to have long-term benefits once settled.