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Mt. Gox’s trustee, Nobuaki Kobayashi, announced that the deadline for the exchange’s scheduled repayments had been extended by 12 months. In a Sept. 21 letter, Nobuaki Kobayashi, the Rehabilitation Trustee for the once-dominant Bitcoin exchange Mt. Gox, announced a one-year extension to the repayment deadline s for the exchange’s creditors. Initially set for Oct. 31, 2023, repayment s are now expected to be finalized by Oct. 31, 2024. Kobayashi further stated that for rehabilitation creditors who have furnished all necessary details, the sequence of repayments could begin by this year’s end. However, he cautioned that the schedule could change based on various factors, and the specific timing for each creditor remains undetermined. This announcement comes after Kobayashi revealed in April that the deadline for creditors to submit repayment data had passed. The news could be seen as another delay in a series of setbacks, although the final repayments are draw...

As the Mt. Gox repayment deadline scheduled for October approaches, crypto observers expect a major industry event coming up this fall. While the cryptocurrency community is actively discussing the upcoming Bitcoin (BTC) halving in 2024, there is potentially another big market event happening this year. The trustee of the hacked Bitcoin exchange Mt. Gox is set to finally repay the exchange’s creditors by the end of October 2023. If that happens, the cryptocurrency market could be significantly affected in several ways, some industry observers agree. Founded in 2010, Mt. Gox was once the biggest Bitcoin exchange in the world, estimated to facilitate around 70% of all BTC transactions before its implosion. The now-defunct exchange lost 850,000 BTC — or 4% of all Bitcoin to ever be issued — in a security breach in 2014. The event made Mt. Gox one of the biggest cryptocurrency bankruptcies of all time, with creditors yet to be repaid, nine years later. As the current Mt. Gox repay ment d...