{"id":15238,"date":"2024-07-16T12:33:34","date_gmt":"2024-07-16T09:33:34","guid":{"rendered":"https:\/\/forklog.com\/en\/mt-gox-bitcoin-transfers-shake-market-with-6-billion-move\/"},"modified":"2024-07-16T12:33:34","modified_gmt":"2024-07-16T09:33:34","slug":"mt-gox-bitcoin-transfers-shake-market-with-6-billion-move","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mt-gox-bitcoin-transfers-shake-market-with-6-billion-move\/","title":{"rendered":"Mt.Gox Bitcoin Transfers Shake Market with $6 Billion Move"},"content":{"rendered":"<p>The bankrupt exchange Mt.Gox has transferred 47,229 BTC ($2.99 billion) and 48,641 BTC ($3.1 billion) to unidentified addresses, according to data from <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/mt-gox\">Arkham<\/a>.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">16 July 2024 | 14:30<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>One of the major recipients of creditors&#8217; assets\u2014bitcoin and Bitcoin Cash\u2014is the American exchange Kraken. <\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/38524\" data-width=\"100%\"><\/script>\n<\/div>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mt.-Gox-Google-Chrome.webp\" alt=\"Mt.-Gox-Google-Chrome\" class=\"wp-image-237041\"\/><figcaption class=\"wp-element-caption\">Data: Arkham.<\/figcaption><\/figure>\n<p>Previously, the platform moved 44,527 BTC (~$2.84 billion) between internal cold wallets. Specialists at Lookonchain <a href=\"https:\/\/x.com\/lookonchain\/status\/1813103427863650726\">suggested<\/a> that the movement of funds is related to a plan to settle creditors&#8217; claims against the platform. <\/p>\n<p>Mt.Gox will distribute a total of 138,985 BTC valued at ~$8.74 billion. Analysts have speculated that the sale of these assets could exert pressure on the market, although some believe such concerns are exaggerated. <\/p>\n<p>Amid the exchange&#8217;s coin movements, the price of bitcoin fell below the $63,000 level. A similar scenario occurred at the end of June when the Mt.Gox trustee announced the start of compensation payments.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"616\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-07-16_11-39-04-1024x616.png\" alt=\"BTCUSDT_2024-07-16_11-39-04\" class=\"wp-image-237042\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-07-16_11-39-04-1024x616.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-07-16_11-39-04-300x180.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-07-16_11-39-04-768x462.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2024-07-16_11-39-04.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We focused so much on the German government and forgot about Mt.Gox,&#8221; noted one user.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We focused so much to Germany government but we forget about Mt.gox <a href=\"https:\/\/t.co\/oF7kNBQBv6\">pic.twitter.com\/oF7kNBQBv6<\/a><\/p>\n<p>\u2014 Poseidon (@CryptoPoseidonn) <a href=\"https:\/\/twitter.com\/CryptoPoseidonn\/status\/1813105484452536524?ref_src=twsrc%5Etfw\">July 16, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>From June 19 to mid-July, authorities in the German state of Saxony sold ~50,000 BTC, <a href=\"https:\/\/u1f987.com\/en\/news\/german-authorities-seize-nearly-50000-btc-from-pirates\">seized<\/a> in January from administrators of the pirate movie site Movie2k.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/38475\" data-width=\"100%\"><\/script><\/p>\n<p>Some estimates suggest that this sale contributed to the decline in the digital gold&#8217;s price. One commentator <a href=\"https:\/\/x.com\/RodolfoPozoA\/status\/1812973097823445242\">noted<\/a> that in the case of the &#8220;German&#8221; bitcoins, the amount was &#8220;only&#8221; ~$3 billion.<\/p>\n<p>Former owner and head of the exchange Mark Karpeles <a href=\"https:\/\/u1f987.com\/en\/news\/former-mt-gox-chief-comments-on-9-8-billion-bitcoin-movement\">does not expect<\/a> mass sales of cryptocurrency by the platform&#8217;s clients.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bankrupt exchange Mt.Gox has transferred 47,229 BTC ($2.99 billion) and 48,641 BTC ($3.1 billion) to unidentified addresses, according to data from Arkham. 16 July 2024 | 14:30Update: One of the major recipients of creditors&#8217; assets\u2014bitcoin and Bitcoin Cash\u2014is the American exchange Kraken. Data: Arkham. Previously, the platform moved 44,527 BTC (~$2.84 billion) between internal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1300,1166,1227,136],"class_list":["post-15238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bankruptcy","tag-centralized-exchanges-cex","tag-cryptocurrency-transactions","tag-mtgox"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15238"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15237"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}