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New 'Commencement of Repayment' Email Brings Fresh Hope for Mt. Gox Creditors

New ‘Commencement of Repayment’ Email Brings Fresh Hope for Mt. Gox Creditors

The Mt. Gox trustee has announced the redemption of $47 million in trust assets, indicating that repayments to creditors could begin in 2023. This news comes after reports of an email sent by Nobuaki Kobayashi, the trustee overseeing the Mt. Gox Bitcoin exchange’s estate, hinting at upcoming repayments. The email states that repayments will continue into 2024 due to the large number of rehabilitation creditors and the varying types of repayments. In addition to this, the trustee has received the redemption of 7 billion Japanese yen ($47 million) to fund the repayment of claims. The trust assets after this redemption amount to 8.8 billion JPY ($59 million). Previously, the trustee was expected to repay creditors by October 2023, but the repayment deadline has been moved to October 2024.

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