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The first major Bitcoin exchange in the world – Mt. Gox just made a major crypto transfer this week. Furthermore, the $2.2 billion BTC transaction was the largest transaction from the exchange in months.
The deceased exchange transferred 32,371 BTC, around $2.2 billion to an unknown wallet. While the reason for this move is still unclear, this development comes just days after Mt. Gox announced it would postpone its plans to repay clients. The original date was October 31, 2024, and was postponed by a year.
A decade after the exchange crashed, Mt. Gox’s bankruptcy repayment duties to creditors is still ongoing. The company still owes around $9.4 billion to former clients – and this development is expected to be another step toward clearing the situation with creditors.
Bitcoin Recovers After $2.2 Billion Withdrawal
The largest crypto in the world saw a small decline in price when news of the sum being moved to a cold wallet arose. By morning, BTC went as low as $66,880 during the previous 24 hours’ lowest point.
However, the asset is now picking up the pace, in anticipation for major events happening this week like the U.S. Presidential election. As of now, BTC trades at $70,522 – up 3.20% over the past 24 hours.
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