Kraken Completes Mt. Gox Bitcoin Repayments

Kraken has completed distributing Bitcoin (BTC) and Bitcoin Cash (BCH) to Mt. Gox creditors, marking a significant step in resolving the decade-old cryptocurrency hack. Despite initial fears of a massive sell-off, data suggests that most creditors are holding onto their assets. Mt. Gox has been actively moving large amounts of BTC, including a recent transfer of $2.47 billion worth to new wallets, as part of its repayment plan. This ongoing process involves several exchanges, including Bitstamp and Kraken, which are helping to return over $9 billion worth of Bitcoin to creditors. Analysts believe that the impact on Bitcoin's market price may be limited due to the staggered nature of the repayments and the strong holding sentiment among creditors.