The ghost of Mt. Gox will stop haunting Bitcoin this Halloween
Mt. Gox is set to complete its creditor repayments by the October 31 deadline, potentially ending years of market uncertainty.Summary
The defunct Mt. Gox exchange holds approximately 34,689 BTC, valued around $3.9 billion, ahead of its extended repayment deadline of October 31, 2025 (though the article references an upcoming Halloween deadline, the text clarifies the official extension is to 2025). The exchange previously lost 650,000 BTC but recovered about 200,000 BTC, which formed the basis for creditor repayments managed by trustee Nobuaki Kobayashi. Kobayashi, nicknamed the “Tokyo Whale,” sold significant amounts of BTC between 2017 and 2018 to fund fiat repayments, actions that coincided with major market downturns, though he denied causing them. In mid-2024, distributions began under a civil rehabilitation plan allowing for BTC or BCH repayments, and despite initial fears of a massive sell-off, initial distributions did not cause a significant trading volume spike. The deadline was extended by a year to allow creditors to finalize claims, and the final distribution of remaining assets is anticipated to conclude this process.
(Source：Cointelegraph)