MT Gox sells crypto currency in the amount of 407 million dollars

The trustee MT Gox sold 35 841 BTC for 362 million dollars and 34 008 BCH for 45 million US dollars, a report on this became available today after the creditors' meeting.

Mark Carpels, former CEO of MT Gox, said, that the amounts were "sold in the period from December last year to February this year with the help of the Bitcoin exchanger".

At this stage, a small amount of additional information is complete message trustee, who gives no explanation why the funds were sold.

Most likely, the Kraken exchange was used, which was supposed to reallocate funds after making a decision based on the latest information on this issue, but the trust manager does not say which exchange was used or what process was used to implement the tokens. Apparently, the sale was carried out by the price tag 400 dollars for one Bitcoin. Mark Carpeles suggested that this is not a coincidence.

Perhaps this is due to the fact that the court is considering the civil rehabilitation of a bankrupt stock exchange at the request of creditors. In response, the court decided to appoint an examiner to find out whether there was any reason to reject the petition. In court 28 February the examiner said:

"I came to the conclusion that there are no reasons stated in paragraphs 2-4 of article 25 of the Law on civil rehabilitation in respect of bankruptcy of MT Gox Ltd".

Thus, the examiner stated that there is no reason to be rehabilitated if the bogus creditors were satisfied as a result of the bankruptcy procedure with the trustee, the company took the necessary step to meet the requirements of selling Bitcoin at a very low price of 400 dollars per BTC.

The trustee has 165 000 Bitcoin, which is currently estimated at 1,5 billion dollars, and the same Bitcoin Cash worth 150 million dollars.

Author: Andrey, analyst Freedman Club Crypo News

Image from Fotolia

Source: Read Full Article

Leave a Reply

click fraud detection