The long-awaited distribution of Mt. Gox's remaining Bitcoin is finally happening. After years of legal battles and uncertainty, the defunct crypto exchange announced that it will be distributing approximately $9 billion worth of Bitcoin to its creditors in July 2024. This news has sent shockwaves through the crypto community, with many eagerly anticipating the impact this will have on the market. What happened to Mt. Gox? Mt. Gox was once the largest Bitcoin exchange in the world, handling over 70% of all Bitcoin transactions at its peak. However, in 2014, the exchange suddenly shut down and filed for bankruptcy after losing over 850,000 Bitcoins in a massive hack. This sent shockwaves through the crypto industry and caused the price of Bitcoin to plummet. The legal battle Since its collapse, Mt. Gox has been embroiled in a lengthy legal battle, with creditors fighting for their share of the remaining assets. Many feared that they would never see their money again, but after...
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