U.Today – Recent Developments with Mt. Gox and Bitcoin Transfers

Recent Mt. Gox Development

A recent tweet from Arkham Intelligence, an on-chain data aggregator, highlighted significant Bitcoin transfers involving the defunct Mt. Gox exchange. Last night, Mt. Gox received $370,000 worth of Bitcoin from U.S.-based cryptocurrency exchange Kraken, indicating that it “emptied 4 of their wallets last night.”

Arkham suggests that more Bitcoin repayments might soon be on the way for Mt. Gox’s creditors. This year, the platform plans to start making compensation repayments to its customers, totaling 142,000 Bitcoin and 143,000 Bitcoin Cash, along with 69 billion yen in fiat currency.

In July, Mt. Gox transferred 140,000 Bitcoin, valued around $9 billion, to various centralized exchanges—Bitstamp, Kraken, and BitGo—in preparation for these compensation payouts. As previously reported by U.Today, on Aug. 21, Mt. Gox transferred $709 million worth of Bitcoin to Bitstamp, while on Aug. 14, it moved 33,141 Bitcoin (around $2 billion) to a new blockchain address for the payouts. Additionally, 117 BTC (about $7 million) was sent to the OKX exchange.

Bitcoiner Anthony Pompliano Sells ETH for SOL

Financial entrepreneur and Bitcoin supporter Anthony Pompliano appeared on the CNBC Squawk Box show today to discuss Bitcoin's performance following the recent Fed Reserve rate cut, as well as a similar action in China. He expressed his view that Bitcoin is the best-performing asset this year, with gold and oil futures following closely behind.

Pompliano revealed that last year he sold all his Ethereum and invested in Solana, believing it to offer superior technology compared to Ethereum. Regarding Bitcoin's price, he stated that the recent rate cuts by the Fed and the Central Bank of China (PBOC) will likely attract a significant amount of cheap capital, positioning Bitcoin as a “big winner.”

This article was originally published on U.Today