On the wallets of the Mt. Gox activity has begun - a test transfer of a small amount to an external address and one internal transfer between wallets were made. Probably, the managers of the bankrupt exchange are preparing for a new batch of payments to clients.Mt. Gox, previously the largest crypto exchange by trading volume, declared bankruptcy in 2014. In 2024, representatives of Mt. Gox announced its intention to pay customers the remaining funds in the amount of 142 thousand bitcoins (about $8 billion at the exchange rate as of mid-July). According to Arkham, the exchange wallets have about 139 thousand bitcoins worth $8.87 billion. The Kraken exchange reported that it had received funds for distribution to Mt. clients. Gox. It will take one to two weeks for her to receive compensation. Kraken is not the only exchange distributing compensation. Payments are also organized by Bitstamp, BitGo and the Japanese Bitbank. More than 13 thousand clients of Mt. Gox has already received compensation in bitcoins and the Bitcoin Cash cryptocurrency through crypto exchanges, said exchange trustee Nobuyaki Kobayashi. As soon as all the conditions for the distribution of funds are met, the rest of the recipients will immediately receive the remaining compensation. Arkham analysts believe that they have discovered the address where bitcoins are stored for distribution through the Kraken exchange for a total of $3.1 billion.Since the approval of exchange-traded spot ETFs earlier this year, $14 billion from these funds have flowed into the Bitcoin market. Since then, the price of Bitcoin has increased by 50%. However, the new ETFs tried to conduct most transactions for the purchase of bitcoin under the table, that is, on large OTCs. Through centralized exchanges, the funds bought only sales of the GreyScale exchange-traded spot ETF. Now the market is holding its breath in anticipation of an influx of more than $8 billion worth of bitcoins into the accounts of centralized exchanges. Potentially, sales from clients of the bankrupt exchange MtGox could lower the price of Bitcoin by 20-40%. Unless market makers get in on the feast or the majority of MtGox clients want to keep most of their assets in Bitcoin. Be careful.
