Crypto exchange Kraken has completed the distribution of bitcoin and bitcoin cash from the Mt. Gox estate to creditors, marking the end of a decade-long process. Kraken CEO David Ripley expressed gratitude for the Trustee’s efforts in preserving the coins’ value despite legal challenges.
Kraken Completes Mt Gox Bitcoin and Bitcoin Cash Distribution to Creditors
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Kraken Distributes Mt. Gox Bitcoin and Bitcoin Cash to Creditors
Cryptocurrency exchange Kraken has completed distributing bitcoin ( BTC) and bitcoin cash ( BCH) from the Mt. Gox estate to creditors, CEO David Ripley announced on social media platform X on Wednesday. Last week, Kraken received 48,641 BTC, valued at over $3 billion, from the Mt. Gox Rehabilitation Trustee to distribute to creditors.
Ripley wrote:
Kraken has successfully distributed bitcoin and bitcoin cash from the Mt. Gox estate back to creditors.
“It’s been nearly a decade since Kraken was selected by the Trustee to facilitate the investigation and return of client funds. It was our privilege and it was our duty,” he added.
Ripley mentioned that previous attempts at repayment were hindered by frivolous lawsuits but expressed gratitude to the Trustee for safeguarding the coins. “While frivolous lawsuits got in the way of earlier payments, we are extremely grateful to the Trustee for keeping the coins safe and HODLing the vast majority of BTC all this time. The preservation of value is exemplary and is surely appreciated by all creditors,” he stated.
As Kraken approaches its 13th anniversary, Ripley reflected on the cryptocurrency exchange’s mission and the contributions of industry pioneers like Jesse Powell. He reiterated Kraken’s commitment to promoting financial freedom and security and thanked their clients and the community for their trust.
Commenting on the Mt. Gox coin distribution, Cryptoquant CEO Ki Young Ju shared on X: “ Mt. Gox creditors received bitcoin 4 hours ago. There has been no significant spike in hourly spot trading volume dominance or BTC outflows on Kraken since then. We need to wait for the Asian time zone, but it’s a positive sign so far.”
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