What's Hot

    First Citizens to Buy Silicon Valley Bank

    March 27, 2023

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    Africa Moving to Crypto as Alternative to US Dollar

    March 27, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      First Citizens to Buy Silicon Valley Bank

      News March 27, 2023
      Recent

      First Citizens to Buy Silicon Valley Bank

      March 27, 2023

      Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

      March 27, 2023

      Africa Moving to Crypto as Alternative to US Dollar

      March 27, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Mt. Gox Creditor Denies Reports of 140,000 Bitcoin Dump 
    News

    Mt. Gox Creditor Denies Reports of 140,000 Bitcoin Dump 

    Anietie DavidBy Anietie DavidAugust 29, 2022Updated:August 29, 20221 Comment3 Mins Read
    Mt. Gox Creditor Denies Reports of 140,000 Bitcoin Dump 
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Mt. Gox creditors on Twitter dismiss reports about an upcoming Bitcoin (BTC)  dump float on the market with one highlighting that the repayment system is not yet live and creditors will have to register their details for the repayment process. 

    Mt. Gox is Not Distributing any Coins 

    Recently there have been rumors about an impending Bitcoin (BTC) dump circulating on Twitter. Creditors of the bankrupt exchange Mt. Gox turned to Twitter to deny them all, with one tweeting that the payout system is still in development. In response to speculations spreading on social media, Eric Wall who identifies as an Mt. Gox creditor stated in a Twitter thread that there will not be a 140,000 BTC dump.

    Wall claims that the exchange has not yet finished building the infrastructure required to start the reimbursement. Wall said that individuals are now still unable to register the address to which Bitcoin and Bitcoin Cash (BCH) payments should be sent. The creditor also thinks that payments should be made in several installments, putting to rest concerns that thousands of Bitcoin would be sold at once, dumping the price of Bitcoin. 

    PSA: MtGox is *NOT* distributing any coins this week, or the next week, or the week after that.

    Source: I’m a MtGox creditor. The repayment system is not live yet.

    Next step: Go and block @TheAltcoinHub for spreading this misinfo.

    — Eric Wall (also supports X 🏴) (@ercwl) August 27, 2022

    Wall also noted that the crypto exchange is yet to provide a timeline for the repayment process. He added that if Mt.Gox releases the Bitcoins, he would not be selling because of the current market condition. He ended the thread expressing disappointment at the misinformation from multiple social media accounts and called for the crypto community to block accounts promoting false information.

    Source: Twitter

    Comments from the Crypto Community

    Following this thread, other members of the crypto community expressed opinions on the issue with many stating that the distribution has not started yet. The CEO of Eight Global, Michael van de Poppe, said in a tweet that Mt. Gox is delaying the distribution again and that the uproar around the news was unwarranted.

    BREAKING:

    Mt. Gox will not be releasing the #Bitcoin, and will delay the distribution, once again.

    The entire crypto space was stressing out heavily on this, but unwarranted.

    — Michaël van de Poppe (@CryptoMichNL) August 28, 2022

    Another Mt. Gox creditor, Marshall Hayner, reported that they have not yet received their Bitcoin. Furthermore, Hayner reassured the neighborhood that the majority of those who will receive payback from the exchange do not plan to sell their Bitcoin.

    Crypto influencer Danny Devan claimed that because the assets would be distributed over months, there would not be “crazy selling” throughout the repayment process, which is just getting started. Devan was pessimistic about the massive volume of BTC being sold and anticipated that the bear market would last for a considerable amount of time.

    Bitcoin Cryptocurrency Mt Gox
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleMastercard Set to Partner with Binance to provide Crypto Payments to 90M Stores
    Next Article Meta Now Allows Users to Post NFTs on Facebook and Instagram 
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    First Citizens to Buy Silicon Valley Bank

    March 27, 2023

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    Africa Moving to Crypto as Alternative to US Dollar

    March 27, 2023
    View 1 Comment

    1 Comment

    1. john on September 4, 2022 10:02 pm

      It is hard to find knowledgeable people about this topic, however, you sound like you know what you’re talking about! Thanks

      Reply

    Leave A Reply Cancel Reply

    Top Posts

    New Crypto Mining Bill in Russia Mandates Earnings Reports

    March 10, 2023

    India Pushes Anti-money Laundering Regulation for Crypto Transactions

    March 8, 2023

    Zambia Explore Crypto Regulatory Framework 

    February 20, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.