Feb 18, 2023
Mt. Gox Creditor Opts for Early BTC Payout
Mt. Gox Investment Fund, the largest creditor of the defunct crypto exchange, has decided to receive a lesser but earlier payout of 90% of what is due to them, instead of waiting for all the legal processes to be resolved. This means that the creditor will be paid by September this year, as opposed to potentially waiting another nine years before getting their funds back.
The decision to opt for an early payout also means that the bankruptcy trustee won’t have to sell tokens to acquire fiat funds for the payment, as the creditor chose to be paid in Bitcoin (BTC). This is likely to be welcomed by the crypto market, as token sales of that magnitude could have a negative impact on the market.
Related: Mt. Gox creditors dismiss rumors of massive Bitcoin dump
Other creditors of the exchange have until March 10 to decide if they want to wait for a larger payment percentage or take the earlier repayment in September. On Jan. 6, Mt. Gox trustee Nobuaki Kobayashi urged creditors to complete the necessary steps before the deadline. Kobayashi wrote that creditors who fail to do so will not be able to receive their funds or will have to bring documents to the head office in Japan and receive payments in Japanese yen.
Mt. Gox used to be the largest cryptocurrency exchange in the world before it went bankrupt in 2014. At the time, the stolen funds were only worth around $473 million. However, at current market prices, it’s worth around $20 billion.
As the crypto industry continues to grow, NFTs and other crypto-based assets are becoming increasingly popular. NFTs are digital assets that are stored on the blockchain and are used to represent a variety of items such as art, music, and collectibles.
NFTs have become a great way for creators to monetize their work, and for businesses to promote their products. As such, many businesses and creators are turning to NFT marketing agencies to help them navigate the web3 space, and to create effective marketing strategies for their NFTs.
Twitter NFT marketing is one of the most popular strategies used by NFT marketing agencies. This involves leveraging the platform’s wide reach and user base to promote NFTs and to drive sales. NFT marketing agencies can also help businesses to create effective campaigns for their NFTs, and to maximize their reach.
Web3 agencies are also becoming increasingly popular. These agencies specialize in providing services such as blockchain development, smart contract audits, and crypto wallet integrations. They are also helping businesses to navigate the web3 space and to develop effective strategies for selling NFTs.
As the crypto industry continues to expand, more businesses are turning to web3 agencies and NFT marketing agencies to help them promote their NFTs and to maximize their reach. With the right strategies and the help of these agencies, businesses can successfully sell their NFTs and maximize their profits.
Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.
