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Mt. Gox Payouts Nearing, But Is the Market Ready for It?
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cryptonews.comFollowing recent news that creditors after the infamous collapse of the bitcoin (BTC) exchange Mt. Gox can finally look forward to some payouts, questions reemerged about whether the market can absorb potential selling from such a large distribution of coins.
According to a translated version of a letter from the Japanese lawyer and trustee for the now-bankrupt exchange, Nobuaki Kobayashi, “approximately 99%” of creditors voted in favor of a proposal on how the distributions should occur. The proposal has now also been confirmed by the court, but no specific timeframe has yet been given on when the funds held by the trustee can be released.
According to documents filed with the court, the Japanese trustee holds a trove of BTC 141,686 (USD
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