In a much awaited move, Kraken - a leading crypto exchange - has reportedly started distributing Bitcoin (BTC) and Bitcoin Cash...
Right when Bitcoin and the rest of the crypto market showed signs of recovering, another impediment has now stood in its way to the top. In a much awaited move, Kraken – a leading crypto exchange – has reportedly started distributing Bitcoin and Bitcoin Cash to Mt. Gox creditors.
While the exchange itself has not confirmed the action, several crypto netizens have confirmed receiving their crypto in their Kraken exchange. The distribution puts an end to the 10-year wait for several early Bitcoin investors who have been waiting to get their money back from the once biggest BTC exchange in the world.to its creditors. And, crypto exchange Kraken is set to repay 48,641 BTC, nearly $3 billion worth of BTC from the $9B pot.
However, the case does not seem to be the same for Bitcoin Cash . The coin has lost over 7% of its value in the past 24 hours and was trading at $364.89, at press time. This reinforces the prediction made by Alex Thorn – Galaxy Digital’s Head of Firmwide Research.that BCH would be at the losing end of the repayment program. He pointed out that the BCH reserves came from Mt Gox’s claim from the fork, and not the creditors purchasing the coin themselves.
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