Mt. Gox's $2.9B Bitcoin Transfer Sparks Market Panic 📉
The infamous Mt. Gox exchange moved $2.9 billion worth of Bitcoin from its cold wallet, fueling fears of a major market dip. What does this mean for traders?
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Bankrupt cryptocurrency exchange Mt.Gox transferred billions of dollars’ worth of Bitcoin from its cold wallet to an unknown wallet, heightening anxiety levels of market participants. On-chain tracking platform Spot On Chain spotted a transfer of 42,909 Bitcoins, worth $2.93 billion at prevailing prices, to a wallet late Monday night. Conclusive information about the recipient wallet remains unknown at the time of writing.
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May 28, 2024
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