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Thursday, March 22, 2018

Crypto News: Mt Gox Trustee: $400 Million Sale Didn't Drop Bitcoin Price

Mt Gox Trustee: $400 Million Sale Didnt Drop Bitcoin Price

The trustee overseeing the bankruptcy of the defunct Mt. Gox cryptocurrency exchange has denied being the cause of the decline in bitcoin prices since December 2017.

In a Q&A report with creditors released on Mar. 17, Nobuaki Kobayashi discussed the recent sale of some $400 million-worth of bitcoin and bitcoin cash belonging to the Mt. Gox bankruptcy estate.

"Following consultation with cryptocurrency experts, I sold BTC and BCC, not by an ordinary sale through the BTC/BCC exchange, but in a manner that would avoid affecting the market price, while ensuring the security of the transaction to the [greatest] extent possible," Kobayashi said, using the alternate ticker symbol BCC for bitcoin cash, which is more normally assigned the symbol BCH.

However, Kobayashi refrained from disclosing precise details of how the funds were sold.


Full story HERE


Source: CoinDesk


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