Parikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. He does not have any crypto holdings.
01:10that it has started repayments to customers, ending a near 10-year long wait for some users to get their crypto back.
The exchange went bankrupt after a hack in early 2014 resulting in the loss of an estimated 740,000 bitcoin.The news of the repayments added selling pressure on bitcoin and the larger crypto market after Mt. Gox announced last month its intention to start repayments in July. "Mt. Gox moved 47,228 BTC, signaling the start of their repayment process, which has caused some market fear due to the large potential sell-off...However, it's worth noting that despite these concerns, the long-term impact may be less severe as the market gradually absorbs the selling pressure," said Willy Chuang, COO of crypto exchange WOO X.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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