The infamous crypto exchange Mt. Gox recently transferred $364.4 million worth of the cryptocurrency to B2C2 Group this month. The transfers have reignited discussions about the exchange’s ongoing efforts to reimburse creditors following its collapse in 2014.
According to blockchain analytics firm Lookonchain, Mt. Gox has been steadily transferring between 200 and 300 BTC daily to B2C2 on weekdays since Bitcoin surged past the $100,000 mark on December 5th.
For those trying to figure out what B2C2 is, it is a leading crypto market maker and liquidity provider with a strong presence in Japan and the UK, acquired by SBI Financial Services, a major player in the Japanese financial sector, back in December 2020.
Mt. Gox itself has not publicly commented on these recent transfers, market analysts believe they are consistent with the exchange’s ongoing efforts to reimburse creditors without having a negative impact on Bitcoin
At the end of the day, Mt. Gox still maintains a substantial Bitcoin holding of 36,085 BTC, valued at approximately $3.4 billion at current market prices.
Mt. Gox has not yet issued an official statement regarding these latest transactions. However, the data strongly suggests a continuation of the exchange’s efforts to finally bring closure to a long and complex chapter in cryptocurrency history.
Also Read: Bitcoin Price Dips Below $94k: Could It Recover $100k Soon?
