Mt. Gox Trustee May Have Crashed Bitcoin in 2018 by Dumping It on an Exchange, but There is Still Hope

Mt. Gox may have crashed the Bitcoin price in 2018 by dumping $321 million on an exchange.

The now-defunct cryptocurrency exchange Mt. Gox reportedly liquidated around $312 million worth of Bitcoin (BTC) throughout February and June of 2018 through a Japanese exchange called BitPoint.

GoxDox, an organization that was established to assist Mt. Gox creditors, released a photograph of a bank account statement on February 5 showing the alleged transactions sent from BitPoint to the Mt. Gox trustee led by Nobuaki Kobayashi.

Alleged Transactions Sent From BitPoint to Mt. Gox Trustee Led by Nobuaki Kobayashi

If the report of GoxDox is accurate, the trustee went out of his way to disregard the suggestion of Kraken CEO Jesse Powell, who explicitly told the trustee to refrain from selling the company’s BTC holdings. If needed, Powell previously said that the trustee has to liquidate the remaining Bitcoin funds on an over-the-counter (OTC) trading platform to minimize its impact on the price of…

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2019-02-12 18:08:00

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Written by Cointelegraph

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