Mt. Gox Extends Repayment Deadline to October 2025
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Mt. Gox, the defunct Japanese crypto exchange, has extended the deadline for its creditor repayment schedule to October 31, 2025, following a court decision on October 10, 2024.
JUST IN: Mt. Gox repayment deadline extended to October 2025. Market relieved as concerns over potential selloff eased. #MtGox
This new timeline, which is a year later than originally planned, has sparked optimism in the crypto market by alleviating concerns over a near-term selloff in Bitcoin.
Nobuaki Kobayashi, Mt. Gox’s Rehabilitation Trustee, explained that the extension was necessary to allow all creditors time to complete the required procedures.
Since the repayment process began in July, many creditors encountered obstacles, prompting the need for additional time.
Kobayashi emphasized the need to make repayments “to the extent reasonably practicable,” leading to the court-approved deadline extension.
Despite the delay, Mt. Gox has already completed repayments to creditors who faced no issues during the process.
Approximately 21,000 creditors have received Bitcoin (BTC) and Bitcoin Cash (BCH) through platforms like Kraken, Bitstamp, and BitGo.
MtGox continues its rehabilitation process by repaying over 19,000 creditors with Bitcoin and Bitcoin Cash.#MtGox #Rehabilitationhttps://t.co/0oPx4oLOwP
Once one of the largest Bitcoin exchanges, Mt. Gox collapsed in 2014 after a hack that led to the loss of 950,000 BTC, a sum valued at over $58 billion today.
The exchange has faced numerous legal and financial challenges in its efforts to compensate creditors,
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