Mt Gox Deposited $75M Worth of Bitcoin Into Bitstamp

IconCryptoNewsTerminal Staff21 Aug, 2024

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Mt Gox Deposited $75M Worth of Bitcoin Into Bitstamp

Mt Gox, the defunct cryptocurrency exchange, has deposited 1,264.7 BTC (approximately $75.36 million) into the Bitstamp exchange. According to blockchain data provider Arkham Intelligence, the transaction took place at 5:49 PM. This follows an earlier report by CoinDesk that 12,000 BTC was deposited into an address believed to belong to Bitstamp at 10 AM today. The purpose of these transactions is unknown, but they have raised speculation about Mt Gox's plans. Some believe that the exchange may be preparing to distribute funds to its creditors, while others believe that it may be selling its remaining Bitcoin holdings. Whatever the reason for these transactions, they are a significant development in the Mt Gox saga. The exchange has been offline since 2014, and its creditors have been waiting for years to receive compensation for their lost funds.

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