Mt. Gox Creditors Opts For Bitcoin Payout
The top Mt. Gox creditor opted for an early Bitcoin payout rather than waiting longer for a larger payment.
Mt. Gox Investment Fund, the largest creditor of the defunct crypto exchange, reportedly chose a smaller but earlier payout over waiting for all legal processes to be completed. This means that the creditor will be paid by September of this year, rather than potentially waiting another nine years.
If the creditor chooses the earlier payout, they will receive 90% of what is owed to them, and the bankruptcy trustee will not have to sell tokens to acquire fiat funds for the payment because the creditor also chose to be paid in BTC.
Other exchange creditors have until March 10 to decide whether to wait for a higher payment percentage or accept the earlier repayment in September.
(With inputs from Shikha Singh)
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