- Bitstamp plans to distribute Mt. Gox Bitcoin and Bitcoin Cash starting Thursday, July 25.
- The exchange has a separate distribution plan for UK customers.
Bitstamp announced on Wednesday that the cryptocurrency exchange has received bitcoin (BTC) from Mt. Gox and will begin distributing the funds to creditors on Thursday.
The exchange also holds Bitcoin Cash from the Mt. Gox trustees, a decade after the Bitcoin exchange collapsed following a major hack. After a decade of waiting, customers of the shuttered cryptocurrency exchange can now get their digital assets back.
Bitstamp accepts Mt. Gox BTC.
Bitstamp announced in an announcement that it will begin the distribution process on July 25, 2024. However, it urged customers to be patient as the verification process continues.
“We are pleased to announce that we have received the Mt. Gox assets. We are working diligently to distribute them to Bitstamp customers who are Mt. Gox creditors. Security checks may take up to a week. We will notify you once the transfer is complete.” Exchange Notified Users can use X
Bitstamp also told users in the UK that distribution to this group will be done through a separate plan.
“Rest assured, we will keep you updated on the process and get your assets to you as soon as possible,” the post on X reads.
Bitcoin price remains above $66,000
Mt. Gox redemptions began this month and continue to put significant downward pressure on the BTC price. However, a significant number of users did not sell during the distribution. For example, CryptoQuant analysts noted that Kraken’s distribution of Mt. Gox bitcoin to its customers led to an increase in BTC outflows.
According to analysts, this scenario could support a potential price rebound for Bitcoin.
Current representative cryptocurrencies Stay above $66kIt has been showing strength since recovering below $64,000 following the recent crash.