Mt. Gox don extend Bitcoin repayment deadline go October 2026
Mt. Gox don secure court okay to extend dia Bitcoin repayment deadline come October 31, 2026. Dis move na follow previous delay dem get from the original October 2023 deadline go 2025. Di extension dem want make sure say dem fit solve outstanding KYC and documentation wahala plus fix technical gbege like double deposits. Since July 2024, di trustee don pay back 142,000 BTC and 143,000 BCH to 19,500 creditors through Kraken and Bitstamp. On-chain data wey Arkham get show say about 34,000 BTC wey worth $4 billion still dey inside Mt. Gox wallets. To reduce market wahala, dem go release repayment in phases through over-the-counter transactions, to reduce sell pressure and give creditors time to finish verification. Dis structured way fit help stabilise Bitcoin price as the exchange dey finish long-long bankruptcy settlement.
Neutral
Di plan wey dem get for phased OTC releases na to reduce di immediate sell pressure. As e be so, di way Bitcoin price go behave for short-tem fit no too serious, e go make di news neutral for traders. For long term, if dem fit solve di Mt. Gox bankruptcy and return di thief Bitcoin, e fit boost market confidence. But, di final release of 34,000 BTC fit put pressure for supply. Overall, di way dem arrange am balance di possible way price fit go down with better legal clarity, making di overall impact on Bitcoin price neutral.