Mark Mason
Well-known member
Mt. Gox Trustee Selloff Partially to Blame for Crypto Price Plunge
Note: To maintain consistency with quoted reports, Bitcoin Cash’s old ticker BCC is used in this article
Attorney and bankruptcy trustee for failed Mt. Gox exchange recently revealed his massive selling positions of Bitcoin and Bitcoin Cash on the open market, which plunged cryptocurrency prices.
Based out of Tokyo, Nobuaki Kobayashi, is responsible for handling the funds acquired from Mt. Gox on behalf of claimants. On March 7, a report was released showing that he exchanged around 35,841.00701 BTC and 34,008.00701 BCC for 42,988,044,343 JPY (~$405 Million USD). He argued that he “made efforts to sell BTC and BCC at as high a price as possible” since he “considered it necessary and reasonable to sell.” Many complained on reddit that he was the cause for the huge plunge in crypto prices over the past week. Redditors also complained about why the trustee had to exchange the BTC and BCC for JPY not just give claimants their BTC and BCC.
Read more: https://www.dashforcenews.com/mt-gox-trustee-selloff-partially-to-blame-for-crypto-price-plunge/
Note: To maintain consistency with quoted reports, Bitcoin Cash’s old ticker BCC is used in this article
Attorney and bankruptcy trustee for failed Mt. Gox exchange recently revealed his massive selling positions of Bitcoin and Bitcoin Cash on the open market, which plunged cryptocurrency prices.
Based out of Tokyo, Nobuaki Kobayashi, is responsible for handling the funds acquired from Mt. Gox on behalf of claimants. On March 7, a report was released showing that he exchanged around 35,841.00701 BTC and 34,008.00701 BCC for 42,988,044,343 JPY (~$405 Million USD). He argued that he “made efforts to sell BTC and BCC at as high a price as possible” since he “considered it necessary and reasonable to sell.” Many complained on reddit that he was the cause for the huge plunge in crypto prices over the past week. Redditors also complained about why the trustee had to exchange the BTC and BCC for JPY not just give claimants their BTC and BCC.
Read more: https://www.dashforcenews.com/mt-gox-trustee-selloff-partially-to-blame-for-crypto-price-plunge/