🌊Mount Gox plans to begin paying back some creditors “soon” in cash as stated in an email creditors received today.

The defunct bitcoin exchange, which collapsed in 2014, said in an email that its rehabilitation trustees “are making efforts to initiate cash payments within calendar year 2023.” However, repayment is likely to “continue until 2024” given the large number of rehabilitation creditors.

In a separate document sent to creditors today, Kobayashi said that on Nov. 17, the rehabilitation trustee received a redemption of 7 billion yen ($46.9 billion) of trust assets to fund repayment. The remaining amount of trust assets after the redemption is 8.8 billion yen, according to the notice.

This latest move appears to mark the first step in repaying all aid. In September, Mt. Gox extended the payment deadline for rehabilitation creditors from 31 October 2023 to 31 October 2024.

#RichardTeng #Blast #hodl #WLD #BTC

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