Mt. Gox begins repayments in Bitcoin and Bitcoin Cash

Mt. Gox, the collapsed crypto exchange, has begun repaying its debts in Bitcoin (BTC) and Bitcoin Cash (BCH).

Repayments are being made to some rehabilitation creditors via designated crypto exchanges in accordance with the Rehabilitation Plan.

“On July 5,2024, the Rehabilitation Trustee made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges etc. in accordance with the Rehabilitation Plan.”

Related: Bitcoin crashes to $53K, but analysts warn the worst isn’t over

Conditions for repayments

The repayments to the remaining rehabilitation creditors will be “promptly made” after multiple conditions have been met.

These conditions include confirming account validity and creditors’ acceptance of the intent to subscribe to the Agency Receipt Agreement by designated crypto exchanges. 

In addition to assuring repayments are made safely and securely, discussions regarding repayment procedures between the Rehabilitation Trustee and the exchanges must also be completed.

Related: Mt. Gox moves $2.7B in Bitcoin to new wallet address

This is a developing story, and further information will be added as it becomes available.

Also Read More: World News | Entertainment News | Celeb News

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Digital Chamber raises privacy concerns over IRS crypto tax draft

The Digital Chamber of Commerce, a leading trade association in the blockchain…

Hong Kong issuer seeks spot Bitcoin ETF for mainland China

The CEO of Harvest, the issuer of a spot Bitcoin (BTC) exchange-traded…

ETH valuation metric is ‘heating up,’ but analyst says it’s not overvalued

A key metric used to determine whether Ether (ETH) is overvalued or…

No, Hamster Kombat is not illegal in Uzbekistan

Regulators in Uzbekistan have not banned citizens from playing the Hamster Kombat…