Mt. Gox, the defunct Bitcoin (BTC) exchange that suffered a major collapse in 2014 has recently initiated payout distribution to creditors waiting for it. The release of a substantial amount of BTC, equivalent to $9.4 billion, on May 27th has raised concerns about potential market liquidity and price stability. In response, the on-chain market intelligence platform CryptoQuant has provided an analysis of the potential impacts of this development. Potential Market Effects According to the firm’s analysis, 138,000 Bitcoin moved significantly from Mt. Gox in seven transactions, each worth 4,000 to 32,000 Bitcoin. Initially, these funds were transferred to a single address and distributed to three separate addresses, each holding 47,400 Bitcoin. It is important to note that these addresses remain under the control of Mt. Gox’s Rehabilitation Trustee, and no repayments to creditors have been made as of yet. The consolidation of these funds suggests that the Trustee is actively preparing for future repayments by the Rehabilitation Plan. Related Reading: ‘Solana Is For Baddies’: Rapper Iggy Azalea Joins The Controversial Celebrity Token Frenzy At present, transfers within the Trustee-controlled addresses ha ..
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