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Understanding the recent Bitcoin decline – Insights from Mt.Gox
Understanding the recent Bitcoin decline – Insights from Mt.Gox
Mt.Gox has officially announced the commencement of reimbursement process.
Writer:
Elif Azra Güven
07 May 2024 – 06:33
Last Updated:
12 seconds ago
0
The significant downward pressure on Bitcoin persists, as its value has plunged by another 7.5% over the past 24 hours, causing its price to dip below $54,000.
The most recent selling pressure emerged with Mt. Gox making an official statement, revealing the activation of Gox wallets and the transfer of Bitcoins.
In a recent development, Mt.Gox declared the initiation of refund procedures.
“Notification Regarding Bitcoin and Bitcoin Cash Refunds:
On the 5th of July, 2024, the Rehabilitation Board began repaying certain rehabilitation creditors with Bitcoin and Bitcoin Cash through designated cryptocurrency exchanges in line with the Rehabilitation Plan.
Refunds to other rehabilitation creditors will occur promptly upon fulfillment of the following conditions:
– Verification of registered account authenticity and other related matters;
– Acknowledgment from designated cryptocurrency exchanges, etc. expressing intent to subscribe to the Agency Acknowledgment Agreement;
– Conclusion of negotiations between the Rehabilitation Board of Trustees and designated cryptocurrency exchanges, etc. concerning repayments;
– Assurance of safe and secure refund transactions.
“We kindly request eligible creditors awaiting payment to exercise patience.”
*MT GOX INITIATES REFUNDS
https://t.co/HzdyREeUJB
— db (@tier10k)
5th July 2024
*This does not constitute financial advice.
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