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Bitcoin windfall for Mt. Gox creditors after 10 year wait
Defunct bitcoin exchange Mt. Gox, a decade after bankruptcy, will soon begin paying back users roughly $9 billion worth of crypto.
Gox, the Japanese bitcoin exchange that collapsed into bankruptcy a decade ago after a major hack, is finally set to repay creditors, who are being rewarded handsomely for their patience. Alex Thorn, head of research at crypto asset management firm Galaxy Digital, said in a note last month that the vast majority of creditors he's spoken with have said they will take a payout in-kind, meaning in cryptocurrency rather than fiat. And JPMorgan said in a note on Monday that people are leaning toward accepting their disbursement in crypto, "either for tax reasons or because they think that liquidating now would void potential further price gains in future."
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