NewsletterJust In: Mt Gox Payouts Delayed; Bitcoin Price To Resume Recovery?
Bitcoin News: Bitcoin, the world’s largest crypto’s price is on a constant decline as the digital asset market is under heavy turbulence. Crypto investors have looked hesitant to indulge in the trade keeping future events in sight. As a such event, Mt Gox Bitcoin Payout has been hounding the crypto market.
Mt Gox Bitcoin Pay Out Postponed
As per reports, a probable black swan event, Mt Gox Bitcoin pay out has been delayed for now. The Mt Gox creditors were set to receive almost 138K Bitcoins as an “early repayment” scheduled on March 10. The total worth of the Bitcoins to be distributed among the creditor was calculated to be around $3 billion.
According to the rehabilitation letter issued by Mt Gox stated that the trustee has decided to change the deadline for the payout to April 6, 2023. It mentioned that the court has granted the Trustees to postpone the repayment deadline.
It added that the early lump sum repayment deadline and intermediate repayment deadline were scheduled to be from October 31 to September end. Meanwhile, the new order will allow the trustee to repay creditors between April 6 to October 30, 2023. Read More Bitcoin News Here…
Crypto Market Losses $1 Tln Mark
Bitcoin price has dropped by more than 7% in the last 7 days over the speculation of the Mt Gox Bitcoin release. Bitcoin is trading at an average price of $21,650, at the press time. As per speculations, the Mt Gox payout would have triggered a massive sell off in the crypto market.
Bitcoin 24 hour trading volume has declined by 10% to stand at $21.77 billion. However, BTC has registered a liquidation of around $25 million in the last 24 hours.
However, the global crypto market cap has again lost its vital $1 trillion mark. The cumulative market cap dropped by 1.5% over the past day. While the 24 hour trading volume has dropped by 6% to stand at $44 billion.
Nearly 40,000 Bitcoins Belonging to US Government Are on the Move| Read More Here…
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Why is the Crypto Market Down Today? BTC, ETH, XRP Lead Drop
- SEC Crypto Task Force Hosts Financial Privacy Roundtable Today: What to Expect
- Breaking: Kevin Warsh Now Favorite to Replace Powell After Hassett’s Fed Chair Bid Faces Pushback
- First Hyperliquid ETF Launch ‘Imminent’ as Bitwise Files Amended S-1 With SEC
- XRP News: Ripple’s RLUSD Eyes Wider Adoption as Stablecoin Expands to Coinbase’s L2 Base
- Bitcoin Price Weekly Forecast as Gold’s Surge Revives Inverse Correlation — Is $85K Next?
- Ethereum Price Risks $2,600 Drop Despite JPMorgan’s New Fund on its Network
- Analyst Confirm Pi Network Price Could Still Reach $1, Here’s When?
- Is Ethereum Price Set for a Rebound as a Prominent Whale Accumulates $119M After the Dip?
- XRP Spot ETF Records Nearly $1B Inflows While BTC and ETH Bleed- Is A XRP Price Reversal Ahead?
- Bitwise SOL ETF Records 33 Days of Nonstop Inflows- Is A Recovery to $150 Possible?
