Kraken Completes Mt. Gox Bitcoin Distribution Without Expected Sell-Off

Kraken has successfully completed the distribution of Bitcoin (BTC) and Bitcoin Cash (BCH) to creditors of the defunct Mt. Gox exchange. Despite concerns that this large-scale distribution would lead to significant selling pressure and a drop in Bitcoin prices, this has not materialised. Creditors appear to be holding onto their assets rather than selling them en masse.Kraken's distribution follows a decade-long saga since Mt. Gox's collapse in 2014, which saw the loss of approximately 850,000 BTC. The funds were transferred to Kraken by the Mt. Gox Rehabilitation Trustees, and the exchange promptly began the distribution process, marking a significant step in compensating the affected creditors​​​​​​ .Overall, this development has provided much-needed closure for many who suffered from the Mt. Gox collapse, and Bitcoin's resilience in the market has been notable, with no significant sell-off occurring despite the large-scale asset distribution​​​​.