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Mt. Gox Moves $2.8B in BTC Amid Bitcoin's Surge Past $100K
Defunct exchange Mt. Gox moves billions in BTC to an unknown address, raising alarm on crypto social media.
Updated Dec 5, 2024, 5:24 a.m. Published Dec 5, 2024, 5:16 a.m.
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What to know:
- Mt. Gox moved $2.8 in BTC to an unknown address as prices rose into six figures, Arkham Intelligence data show.
- The defunct exchange still holds 39,878 BTC.
An address tied to long-defunct crypto exchange Mt. Gox moved large amounts of BTC to an unidentified address early Thursday as the cryptocurrency's price rose to six figures.
The address labelled as Mt. Gox (1FHOD) by analytics firm Arkham Intelligence moved 27,871 BTC worth $2.8 billion to another address: 1N7jWmv63mkMdsYzbNUVHbEYDQfcq1u8Yp. The exchange still holds 39,878 BTC worth over $4 billion at press time.
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The latest outflow comes three weeks after the defunct exchange transferred 2,500 BTC to an unknown address and has grabbed eye balls on crypto social media. These on-chain movements are likely related to creditor reimbursements, which were a significant source of bearish pressure this summer. In October, Mt. Gox trustee postponed the deadline for creditor repayments by one year to Oct. 31, 2025.
BTC is not showing any sign of weakness as of writing, trading steady above $103,000, CoinDesk data show.
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Ark Invest buys $18 million of crypto stocks including 10th consecutive Bullish purchase
Ark also bought $12 million worth of crypto-friendly investment platform Robinhood and $4 million worth of ether treasury firm Bitmine Immersion Technologies.
Що варто знати:
- Ark Invest added another $18 million worth of crypto-adjacent stocks to its holdings on Thursday.
- Ark's Bullish purchase extends its run of consecutive days of buying equity in the crypto exchange.
- The investment company also bought $12 million worth of crypto-friendly trading platform Robinhood and $4 million worth of ether treasury firm Bitmine Immersion Technologies.
