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Mt. Gox Rehabilitation Plan Now Binding: Crypto Proponents Deny Major Bitcoin Price Impact

Reimbursing bitcoin investors who had their BTC in Mt. Gox before the infamous hack back in the day has been one of the most commonly discussed and hot topics throughout the past few years.

What was once the biggest cryptocurrency exchange was hacked back in 2014, and 7 years later, the rehabilitation plan for creditors is now ‘final and binding.’

Mt. Gox Rehabilitation Plan Now Final

As CryptoPotato reported earlier in October, approximately 99% of the voting rehabilitation creditors approved a plan to reimburse investors for what they lost during the 2014 hack.

Now, in a new announcement, it was made clear that said rehabilitation plan has been made ‘final and binding.’  There’s no date set in stone about when the creditors will be able to receive the lost BTC and whether or not they will receive it in bitcoin or in USD. However, the latest announcement reads that:

Read more:  Bitcoin Slides to $44K as Cardano Dumps 12% Hours After the Hard Fork (Market Watch)

The same poll also revealed that most of the creditors, however, plan on selling the BCH they have as a result of the network’s fork.

Adam Back, Co-Founder and CEO at Blockstream, confirmed the results from his perspective:

Can confirm: selling 0% BTC. But on BCH in fact once there’s a date fixed, I figure I can short-sell BCH before it’s released by Mt. Gox bankruptcy administrators to get a better price before it’s crushed by a wave of selling 🙂 – He said.


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Tags: Bitcoin Mt. Gox

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