A notification from Rehabilitation Trustee Nobuaki Kobayashi on Monday revealed that the defunct bitcoin exchange Mt. Gox plans to distribute repayments in bitcoin and bitcoin cash starting in July.
The Trustee stated that preparations have been made for safe and compliant repayments and the process will begin in July 2024.
The debtor has taken time to ensure reliable and compliant arrangements and will prioritize repayment based on the order of cryptocurrency exchanges completing the necessary information.
Prior to the announcement, Bitcoin had already experienced a drop in value, with $48 million in long liquidations and a decrease from $63,000 to a low of $62,270. Following the news of Mt. Gox’s repayment plan, the cryptocurrency saw a further 3% drop to around $60,500 before rebounding slightly.