Mt. Gox Repays Creditors $784 Million in BTC and BCH, Raising Concerns of Selling Pressure

IconCryptoNewsTerminal Staff21 Aug, 2024

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Mt. Gox Repays Creditors $784 Million in BTC and BCH, Raising Concerns of Selling Pressure

Mt. Gox, the infamous cryptocurrency exchange that collapsed in 2014, has reportedly repaid a portion of its creditors today. On-chain analyst ai_9684xtpa reported via Twitter that Mt. Gox repaid 13,264 BTC (approximately $784 million) to creditors. The exact amount repaid by Mt. Gox remains unclear, but the substantial size of the repayment has raised concerns among market analysts. It is uncertain whether creditors will hold or sell the repaid funds, but the potential for selling pressure could have a significant impact on the cryptocurrency market. Given the size of the repayment, caution should be exercised by market participants. It is advisable to monitor market activity and news closely, and consider potential strategies to mitigate any potential impact from selling pressure. ```

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