The trustee of in-operative digital currency exchange Mt.Gox ‘Nobuaki Kobayashi,’ has recently revealedits transaction report for the cryptocurrency selling.In line withthe document, Kobayashi has liquidatedvirtually26 Bln yen equivalent to around more than $230 Mln’s in Bitcoin [BTC] and BitcoinCash [BCH] inaround just four months.
Kobayashi,also referred as theTokyo Whale, wellthanks tothe multiple rounds of cryptocurrency sell-offs he has undertaken on behalf of Mt.Gox exchange since the Q3 in the year 2017. As per the current resources analysis, he hassoldaround more than 24,,650 in Bitcoin’s [BTC] andmore than 25,330 in Bitcoin Cash [BCH].
The statement further added that:
“The transactions occurred “duringthe timefrom thetenthcreditors meetingwithin theBankruptcy Proceedings (i.e., from 7th March this year) to the commencement of Civil Rehabilitation Proceedings.”
As reported by Etherdesk earlier, Japanese courts approved a petition for the exchangeto starta civil rehabilitation,thathad theconsequenceof repaying creditors in Bitcoins [BTC] and ending the Bitcoin sell-offs.
Prior tothat time, Kobayashi had fielded criticism from crypto investors over the alleged negative impact his sales were having on Bitcoinselling prices.
However, in total the last transactions has brought the net gross to more than 25,975,702,350 yen which are equivalent to $230,286,100 USD,leading tothe mean valueper Bitcoin [BTC ] to around $8100 USD followed by Bitcoin Cash [BCH] to around $119o peroneBCH.
Kobayashi’s statementmentionedthat he would inform creditors laterregardingsubsequentstepsthey ought toundertake asa part ofthe procedureof being paid funds lost in Mt.Gox’s recent Bitcoin hack.