Trustee Of The Mt. Gox, Nobuaki Kobayashi, will not collapse the market of Bitcoin

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Today the Manager of Mt.Gox issued a statement about the groundbreaking for the payment of civil claims, which testifies to the victory of the creditors, who have long wondered, will they ever get financial compensation.

Tokyo court ordered to start the procedure of civil compensation for the “enormous sums that had to be returned to the former shareholders”.

Creditors Of Mt. Gox can celebrate

“This is the first case in history of law in Japan that bankruptcy proceedings ever brought in the income, it’s usually exactly the opposite, after the beginning of procedure of reorganization. Mt. Gox has made a historical sensation” — said the lawyer of the victims, Daniel Kelman.

According to the court, the creditors of Mt.Gox will begin to receive compensation from the beginning of next year. Today the site of Mt.Gox published an announcement, which contains the provisional timetable of the expected payments.

Bitcoin whale, Nobuaki Kobayashi will not sell Bitcoins

The key point of this story is that the Trustee of the Mt.Gox, Nobuaki Kobayashi, will no longer sell Bitcoins, at least in the foreseeable future, as creditors will not receive compensation for their funds somewhere in the early to mid-2019. Although under his control still is 137 890,96 BTC (about $ 880 million), representing 0,807% of all existing Bitcoins and their distribution can affect kryptering.

Kobayashi was called the “bitcoin whale, Mt.Gox” for the sale of $ 400 million in BTC and BCH from December 2017 to February 2018. Trustee accused that he caused the fall of the stock market in this period while the Trustee denied their influence on the collapse of Bitcoin prices.

However, traders are closely monitoring the funds of Mt.Gox in an attempt to promptly anticipate a potential sale in the market.

The next meeting of creditors to report the status of the process of civil compensation is scheduled for September 26, 2018.

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