On June 24 at Mt. Gox rehab trustees have issued a letter to creditors stating that payments will begin in early July 2024. “The Rehabilitation Trustees are making preparations to issue Bitcoin and Bitcoin Cash payments under the Rehabilitation Plan,” it said.

Mt. Gox went bankrupt after a hack in 2014 that led to the theft of 850,000 BTC, worth $460 million at the time. Larger creditors of the bankrupt crypto exchange had opted for a payment option in which they would receive bailout payments in BTC rather than fiat.

This latest news has raised concerns about large inflows of Bitcoin into markets that have already turned bearish. Bitcoin prices fell to $61,000 on the news, with losses over the last 24 hours now reaching 4.6%. 📉📊