Mt.Gox Postpones Repayment Deadline to October 2025
The Mt.Gox rehabilitation team shared in a notice last Thursday that the deadline for repayments to many creditors has been extended by one more year, from October 31, 2024, to October 31, 2025, allowing more time to resolve outstanding rehabilitation claims amid ongoing bankruptcy proceedings.
This could be interpreted as positive for the price of bitcoin, as billions of dollars worth of bitcoin (and potential selling pressure in crypto markets) that were due to return to creditors later this month will now not do so until next year.
According to on-chain analytics platform Arkham Intelligence, addresses associated with Mt.Gox currently hold 44,905 bitcoins, roughly $2.82 billion at current market prices.
