nostradamus on Nostr: Love the smell of old korn in the air. lol ...

Love the smell of old korn in the air.
lol

quoting note1526…pzs8

Mt. Gox Shifts $9 Billion in Bitcoin (BTC): Market Sentiment Turns 🔄

The Mt. Gox cold wallet has transferred over 140,000 BTC, stirring market anxiety. According to Arkham Intelligence, Mt. Gox's main wallet still holds 138,985 Bitcoin (BTC) worth around $8.7 billion and has moved the funds for the first time in two weeks.

In two transactions, nearly 96,000 BTC worth over $6 billion were moved to two unknown wallets, while the initial 44,527 BTC were sent to a known Mt. Gox cold wallet. Over $6 Billion in Two Hours 🕑



The total volume of BTC transactions by Mt. Gox on July 16th was almost 190,000 BTC, representing over $12 billion moved in just three hours.


The unknown address ending in "BHDct9b" received 42,587 BTC worth $2.69 billion, while the remaining 4641.24 BTC worth $293.94 million were transferred to the wallet "Mt. Gox: Cold Wallet (1Jbez)."

The address "BHDct9b" has not yet transferred the 42,587 BTC, but the resulting market fear indicates a shift in sentiment towards BTC.

Subsequently, another 48,641 BTC were sent to a different unknown address, moving an additional $3.07 billion from the main Mt. Gox wallet. Impact of Repayment 💸

Mt. Gox announced on July 5th that the bankrupt exchange would begin repaying its BTC and BCH debts to creditors. It stated that the repayments to creditors would occur through certain cryptocurrency exchanges.

The announcement named Mt. Gox Co. Ltd. as the debtor and attorney Nobuaki Kobayashi as the rehabilitation trustee.

The repayment statement mentioned that the remaining rehabilitation creditors would receive the funds "immediately" once the necessary conditions are met.

Given that the main Mt. Gox wallet showed outflows exceeding $9 billion in BTC on July 16th, this rapid repayment might occur before August.