One of the largest cryptocurrency exchanges in the history of Mt.Gox, which stopped trading in February 2014, still has a significant impact on the cryptocurrency market. The crypto community, as always, learns about it after the fact.
The bear market in 2018 could partly be triggered by the fact that the trustee of the bankrupt Mt.Gox, Nobuyaki Kobayashi, used the BitPoint platform to sell a large amount of Bitcoin and Bitcoin Cash.
According to documents related to the company's bankruptcy proceedings in the Tokyo District Court, Kobayashi could sell Bitcoin and Bitcoin Cash for $ 318 million through the BitPoint platform. This data was published by the GoxDox.com group, which represents the interests of creditors.
“The reason for transferring billions of yen to the trust manager’s bank account is that the exchange was hired to sell Bitcoin and Bitcoin Cash, which belonged to Mt.Gox,” the publication said.
At the beginning of last year, the network reported that a sharp decline in the course of digital money may be associated with the elimination of reserves of the bankrupt stock exchange. To this, Kobayashi responded that he consulted with experts and sold the cryptocurrency in such a way as not to affect its value.