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Home»ADOPTION NEWS»Mt. Gox extends repayment deadline to 2025
ADOPTION NEWS

Mt. Gox extends repayment deadline to 2025

By Crypto FlexsOctober 12, 20243 Mins Read
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Mt. Gox extends repayment deadline to 2025
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Mt. Gox, a defunct cryptocurrency exchange, has postponed its repayment deadline to next year.

Mt Gox now plans to repay creditors on October 31, 2025. Previously, the repayment deadline was moved from October 31, 2023 to October 31, 2024.

“Because it is desirable to repay the relevant rehabilitation creditors as much as reasonably possible, the rehabilitation administrator received permission from the court and changed the payment deadline from October 31, 2024 (Japan Standard Time) to October 31.” , 2025 (Japan Standard Time),’ the defunct exchange wrote in Thursday’s announcement.

The smoke temporarily eased concerns. Bitcoin BTC

-0.20%
Selling pressure causes the token price to fall. In July of this year, Bitcoin fell below 3.38%. $59,000 (the lowest price since May) costs Mt. This was around the time Gox moved 47,229 BTC ahead of a payout of nearly $9 billion, The Block previously reported. Selling pressure involves a situation where there are more sellers than buyers, causing the price of an asset to fall.

Mt. Gox is a Tokyo-based exchange founded in 2010 and has become one of the largest platforms for Bitcoin trading. In 2014, a security breach that resulted in the loss of 850,000 BTC led the company to suspend withdrawals and file for bankruptcy protection. Mt. Gox planned to redistribute 142,000 BTC, 143,000 Bitcoin Cash, and 69 billion Japanese Yen held.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.

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