Kraken has distributed assets to creditors of Mt. Gox, while Bitcoin has fallen below $66000

Several creditors of Mt. Gox announced on social media yesterday (23rd) that they have received repayment payments in their Kraken exchange accounts. At the same time, the price of Bitcoin has fallen, dropping to around $65500 at one point. The trading price of Bitcoin before the deadline is approximately $66000.

Mt. Gox filed for bankruptcy in February 2014, and its restructuring trustee announced earlier this month that it had begun repaying Bitcoin and Bitcoin Cash (BCH) to some creditors under the restructuring plan. The wallet address marked by Arkham, an on chain intelligence company, as held by Mt. Gox transferred approximately 42600 bitcoins (worth about $2.7 billion) to other addresses last week. Shortly after, it was reported in the market that Kraken had announced receipt of funds from Mt. Gox's restructuring trustee.

Kraken CEO Dave Ripley also confirmed earlier today on X platform that the exchange has successfully returned BTC and BCH from the bankrupt Mt Gox consortium to creditors. He stated that it has been nearly a decade since Kraken was selected by Mt. Gox's restructuring trustee to facilitate the investigation and return of client funds.

Recently, there have been reports of cryptocurrency prices frequently shifting on MtGox related chains, leading to negative reactions. Mt. Gox transferred a large amount of Bitcoin to the Bitstamp exchange address yesterday afternoon, causing a simultaneous decline in Bitcoin prices and dragging down the overall cryptocurrency market. According to Arkham's data, the Mt. Gox wallet still holds over 90000 bitcoins worth approximately $5.96 billion.