Right when Bitcoin (BTC) and the rest of the crypto market showed signs of recovering, another impediment has now stood in its way to the top. In a much awaited move, Kraken – a leading crypto exchange – has reportedly started distributing Bitcoin (BTC) and Bitcoin Cash (BCH) to Mt. Gox creditors.
While the exchange itself has not confirmed the action, several crypto netizens have confirmed receiving their crypto in their Kraken exchange. The distribution put an end to the wait for several early Bitcoin investors who have been waiting to get their money back from the once biggest BTC exchange in the world.
Source: X
The bankrupt exchange has been on the move to repay nearly $9 billion worth of Bitcoin to its creditors. And, crypto exchange Kraken is set to repay over $3 billion worth of BTC from the $9B pot.
Notably, BTC’s price has not recorded any drastic change since the news of Mt Gox repayment broke, contrary to popular belief of the cryptoverse these past few weeks. According to CoinMarketCap, Bitcoin was trading at $65,804.18 with a trading volume of $35.38B. The market cap of the king coin was at $1.3T with the coin recording a slight change of over 2% in the past 24 hours.
The story is still developing.
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