Mt. Gox Likely to Move More BTC Soon: Report

U.Today - Arkham Intelligence on-chain data aggregator spreads the word about the recent Bitcoin transfers with the participation of former cryptocurrency exchange Mt. Gox.

Recent Mt. Gox developmentThe tweet unveils that last night the platform received $370,000 worth of Bitcoin from U.S.-based cryptocurrency exchange Kraken. Arkham says that “Mt. Gox emptied 4 of their wallets last night.”

The data agency assumes that more Bitcoin repayments from the dysfunctional crypto platform might be coming soon to its creditors.

This year, Mt. Gox planned to finally begin compensation repayments to its customers. In total, 142,000 Bitcoin and 143,000 Bitcoin Cash were expected to be paid out in addition to $69 billion yen in fiat.

In July, the platform transferred 140,000 Bitcoin valued at roughly $9 billion at the time to various centralized exchanges – Bitstamp, Kraken, BitGo – as it began to prepare for the aforementioned payouts.

As reported by U.Today earlier, on Aug. 21, Mt. Gox transferred $709 million worth of Bitcoin to the Bitstamp exchange. On Aug. 14, the platform shoveled 33,141 Bitcoin (valued at approximately $2 billion) to a new blockchain address in preparation for the payouts. A total of 117 BTC was sent to the OKX exchange (the equivalent of roughly $7 million).

Bitcoiner Anthony Pompliano sells ETH for SOLFinancial entrepreneur, Bitcoin supporter and founder of Pomp Investments fund Anthony Pompliano paid a visit to the CNBC Squawk Box show today. He discussed what has been happening to Bitcoin in light of the recent Fed Reserve rate cut and a recently announced similar move in China.

Pompliano (known to the global cryptocurrency community as Pomp) told CNBC host Andrew Sorkin that he believes Bitcoin to be the best performing asset this year, while gold and oil futures come right after it in terms of gains.

He stated that last year he sold all of his Ethereum and acquired Solana instead, trusting that the Solana chain offers a better technology than the second largest crypto platform.

As for Bitcoin's price, Pompliano reckons that due to the recent Fed rate cut and a similar measure announced by the Central Bank of China (PBOC), they are going to attract a lot of cheap capital to the market, and this is where Bitcoin “ends up being a big winner,” Pompliano said.

Source: Investing.com