Bitstamp, a well-known crypto exchange, is determined to expedite the reimbursement process for investors affected by Mt. Gox. Rather than waiting the full 60 days allowed by their agreement with the Mt. Gox trustee, Bitstamp aims to repay its debtors much sooner.
The initiation of Mt. Gox reimbursements has stirred up quite a buzz in the crypto market. Bitstamp has stepped forward to assure creditors who were owed payments by Mt. Gox that they will receive their refunds as quickly as possible. This commitment from Bitstamp sheds light on the payback timeline, which was previously uncertain.
Bitstamp has prioritized exceptional customer service and seeks to expedite bitcoin repayments to Mt. Gox creditors. As one of the assigned exchanges responsible for this task, Bitstamp is obligated to disburse the tokens within 60 days upon receipt, as per the agreement with the Mt. Gox trustees. However, the exchange is making a concerted effort to refund investors without delay.
The crypto market has been eagerly awaiting updates on the Mt. Gox reimbursement schedule, and this recent announcement brings some much-needed clarity. There are currently five exchanges involved in the payback process, each with its own unique distribution timeline.
Two Japanese exchanges, Bitbank and SBI VC Trade, swiftly completed the allocation and distribution of funds within a matter of hours. However, it remains unclear how the remaining three exchanges, Bitstamp, Kraken, and BitGo, are progressing with their distributions. These exchanges have varying deadlines for processing payments, with Bitstamp having up to 60 days, Kraken up to 90 days, and BitGo up to 20 days.
In addition to the Mt. Gox reimbursements, there have been other significant events that have stirred the crypto market. Concerns about future price drops caused Bitcoin’s value to briefly dip below $54,000. However, it has since rebounded and is currently trading at $55,600.
Today’s highlighted crypto news includes a decline in activity within the Dogecoin (DOGE) derivatives market, which has reached its lowest point in a year.
