- Mt. Gox has extended its repayment deadline for creditors from October 31, 2025, to October 31, 2026.
- The delay stems from incomplete procedures for many creditors and the need for secure distribution processes.
- This move may reduce immediate selling pressure on Bitcoin, with roughly 34,700 BTC still awaiting distribution.
The defunct cryptocurrency exchange Mt. Gox has once again delayed its creditor repayments, pushing the deadline back by a full year to October 31, 2026.
In an announcement from rehabilitation trustee Nobuaki Kobayashi, the extension was attributed to the time required for a large number of creditors to complete necessary steps and to ensure safe and accurate distributions.
History of Postponements
This is the third significant delay in the Mt. Gox rehabilitation process. The exchange, which suffered a major hack in 2014 leading to the loss of approximately 850,000 BTC, initially aimed to complete repayments by October 2023, then 2024, and most recently 2025.
Creditors are entitled to receive funds in Bitcoin (BTC), Bitcoin Cash (BCH), and fiat currency. While some distributions have occurred, challenges including international banking coordination and KYC compliance have slowed progress, as noted in reports from CoinDesk.
Potential Market Impact
The postponement could provide short-term relief to Bitcoin markets by deferring potential sell-offs. According to analysis from CryptoSlate, the remaining undistributed amount includes about 34,700 BTC, a figure that might have less impact on prices given Bitcoin’s increased liquidity and market cap in recent years.
The postponement could provide short-term relief to Bitcoin markets by deferring potential sell-offs.
“Due to the fact that it is expected that a large number of rehabilitation creditors will require time to receive repayments, and that it is necessary to make repayments in a safe and secure manner,” Kobayashi explained in the statement, as reported by Cointelegraph.
However, the repeated delays raise questions about the efficiency of crypto bankruptcy proceedings and could affect creditor sentiment.
Current Market Context
The news comes as Bitcoin hovers near recent highs, with traders monitoring broader economic factors such as the upcoming Federal Reserve rate decision. Decrypt highlighted that the delay averts a potential supply shock just days before the original deadline.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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