Key Points
- Following Kraken’s distribution of Bitcoin and Bitcoin Cash last week, Mt. Gox sent 0.021 Bitcoin to Bitstamp early this morning.
- Bitstamp has been identified as one of the exchanges handling Mt. Gox’s debt repayments.
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Mt. Gox, the once popular cryptocurrency exchange, began trading small amounts of bitcoin on Monday. According to data from Arkham Intelligence, a wallet associated with Mt. Gox transferred 0.021 bitcoin to Bitstamp, the designated exchange for repaying creditors.
Recent transfers show that Mt. Gox is preparing for a significant customer redemption. Following Kraken, Bitstamp could be next in line to receive Bitcoin and Bitcoin Cash from Mt. Gox’s custodians.
Last week, Kraken confirmed that it had received Bitcoin and Bitcoin Cash from Mt. Gox and that the funds would be delivered to customers within 7-14 days.
Mt. Gox’s trustees began the redemption process earlier this month. Cryptocurrency exchanges such as Kraken, Bitstamp, and Bitbank provide funds to customers Within 90 days of receipt.
According to Arkham data, at the time of reporting, Mt. Gox wallets still held $6.09 billion worth of Bitcoin.
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