Mt. Gox Trustee Liquidates Mammoth-Size Amount of Bitcoin

  • Nobuaki Kobayashi, Japanese lawyer who acts like Mt. Gox’s bankruptcy trustee, has recently dumped around $230 mln worth of BTC and BCH in the present market

Mt. Gox Trustee Liquidates Mammoth-Size Amount of Bitcoin

Nobuaki Kobayashi, Japanese lawyer who acts like Mt. Gox’s bankruptcy trustee, has recently dumped around $230 mln worth of Bitcoin (BTC) and Bitcoin Cash (BCH) in the market, according to a recent Bloomberg report. Kobayashi, also dubbed “Tokyo whale,” has the crypto community waiting for his next move with bated breath because of the enormous amount of coins that he controls.  

Under the civil rehabilitation plan, Mt. Gox has to repay its creditors around $1 bln. As U.Today reported earlier, the now-defunct Japanese exchange could lead to another market crash due to a gargantuan amount of payouts.
 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.