Mt. Gox has transferred a significant amount from their Bitcoin holdings. This development has led to speculations that the defunct crypto exchange might be looking to make BTC repayments to its remaining customers. If so, this puts the Bitcoin price rally at risk, considering how the past repayments affected the flagship crypto.
Mt. Gox Moves Part Of Bitcoin Holdings
Arkham Intelligence data shows that the defunct crypto exchange has transferred part of its BTC holdings. Mt. Gox emptied four of their wallets after receiving $370,000 BTC from the Kraken. This has led to speculations that the exchange might be looking to make more repayments soon enough. Mt. Gox still holds 44,899 BTC ($2.85 billion), which indicates that the exchange isn’t done repaying its customers.
The crypto exchange began its Bitcoin repayments to customers earlier this year through Kraken, Bitbank, BitGo, Bistamp, and SBI VC trade. As such, the transfer between Mt. Gox and Kraken further suggests that the defunct crypto exchange might be looking to make more BTC repayments.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
By CoinGape
Source: CoinGape
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