{"id":17770,"date":"2023-02-17T16:38:18","date_gmt":"2023-02-17T16:38:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/top-mt-gox-creditors-will-receive-90-of-payout-in-bitcoin\/"},"modified":"2023-02-17T16:38:18","modified_gmt":"2023-02-17T16:38:18","slug":"top-mt-gox-creditors-will-receive-90-of-payout-in-bitcoin","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/top-mt-gox-creditors-will-receive-90-of-payout-in-bitcoin\/","title":{"rendered":"Top Mt.Gox creditors will receive 90% of payout in Bitcoin"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676650847310-06e2853a-c2ab-4c86-814b-96f76cbef2b3-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676650847310-06e2853a-c2ab-4c86-814b-96f76cbef2b3-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676650847310-06e2853a-c2ab-4c86-814b-96f76cbef2b3-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676650847310-06e2853a-c2ab-4c86-814b-96f76cbef2b3-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Mt.Gox Investment Fund and Bitcoinica reportedly want reimbursement from the Mt.Gox Trustee to be in Bitcoin.<\/li>\n<li dir=\"ltr\">The two firms are two of the largest creditors of Mt.Gox, a Bitcoin exchange that went bankrupt in 2014.<\/li>\n<li dir=\"ltr\">A reimbursement program for all creditors indicates payouts will begin on 30 September 2023.<\/li>\n<\/ul>\n<p dir=\"ltr\">Mt. Gox creditors have waited nearly a decade for reimbursement payouts following the collapse of one of Bitcoin\u2019s earliest and (by then) largest exchanges.<\/p>\n<p dir=\"ltr\">But now with the rehabilitation process drawing towards a close, two of the defunct crypto exchange\u2019s largest creditors have opted for a payout in <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">bitcoin<\/a>.<\/p>\n<h2 dir=\"ltr\">Mt.Gox Investment Fund opts for BTC payout<\/h2>\n<p dir=\"ltr\">According to a news <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-17\/top-creditor-of-mt-gox-crypto-exchange-opts-for-bitcoin-payout\" rel=\"noopener noreferrer\" target=\"_blank\">report<\/a> by Bloomberg, Mt. Gox Investment Fund, which is the largest creditor of the defunct Bitcoin exchange, has settled for a payout in Bitcoin. Another top creditor looking to recover their funds in BTC is Bitcoinica, a crypto platform that also went bankrupt following multiple hacks.<\/p>\n<p dir=\"ltr\">Creditors agreed to the <a href=\"https:\/\/coinjournal.net\/news\/mt-gox-bitcoin-reimbursement-proposal-confirmed\/\">reimbursement program<\/a> in October 2021, and are currently updating their payout details as they pick payment options. \u00a0<\/p>\n<p dir=\"ltr\">Earlier this year, Mt.Gox Trustee Nobuaki Kobayashi notified creditors that the court had allowed them to push the deadline for registration of payee information to 10 March 2023. Repayments, which are expected in cryptocurrency or fiat are set to begin on 30 September.<\/p>\n<p dir=\"ltr\">Both Mt.Gox Investment Fund and Bitcoinica have opted to receive 90% of the repayments in BTC, according to the report. The two creditors will get paid in September.<\/p>\n<h2 dir=\"ltr\">What does this mean for BTC?<\/h2>\n<p dir=\"ltr\">The move is largely positive for Bitcoin as receiving the payments in the cryptocurrency significantly reduces the impact of a dump if the Trustee had to liquidate the coins in order to pay in fiat.\u00a0<\/p>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> rose to highs above $25k this week as the crypto market sentiment ticked up despite US regulators\u2019 latest actions. On Friday (11:00 am ET), BTC pushed above $24k once again following an earlier dip to lows of $23,300.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/top-mt-gox-creditors-opt-for-bitcoin-payout-report\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Mt.Gox Investment Fund and Bitcoinica reportedly want reimbursement from the Mt.Gox Trustee to be in Bitcoin. The two firms are two of the largest creditors of Mt.Gox, a Bitcoin exchange that went bankrupt in 2014. A reimbursement program for all creditors indicates payouts [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17771,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17770"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17770"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17771"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}