Mt. Gox has transferred a significant amount from their Bitcoin holdings. This development has led to speculations that the defunct crypto exchange might be looking to make BTC repayments to its remaining customers. If so, this puts the Bitcoin price rally at risk, considering how the past repayments affected the flagship crypto.

Mt. Gox Moves Part Of Bitcoin Holdings

Arkham Intelligence data shows that the defunct crypto exchange has transferred part of its BTC holdings. Mt. Gox emptied four of their wallets after receiving $370,000 BTC from the Kraken. This has led to speculations that the exchange might be looking to make more repayments soon enough. Mt. Gox still holds 44,899 BTC ($2.85 billion), which indicates that the exchange isn’t done repaying its customers.

The crypto exchange began its Bitcoin repayments to customers earlier this year through Kraken, Bitbank, BitGo, Bistamp, and SBI VC trade. As such, the transfer between Mt. Gox and Kraken further suggests that the defunct crypto exchange might be looking to make more BTC repayments.

The post Breaking: Mt. Gox Wallets Moves Bitcoin From $2.85 Billion BTC Stash appeared first on CoinGape.

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Filed under: News - @ September 25, 2024 12:22 pm