RATE Group | Mt. Gox Trustee Confirms He Sold off $230 Million in Cryptocurrency
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Mt. Gox Trustee Confirms He Sold off $230 Million in Cryptocurrency

26 Sep Mt. Gox Trustee Confirms He Sold off $230 Million in Cryptocurrency

Posted at 06:07h in Cryptocurrency News by

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A man known as “Tokyo Whale,” for the enormous amount of bitcoin he controls, confirms he unloaded another big chunk of it earlier this year.

Nobuaki Kobayashi, the trustee of now-defunct Tokyo exchange Mt. Gox, liquidated 24,658 bitcoin and 25,331 bitcoin cash between the creditors’ meeting on March 7, 2018, and the start of civil rehabilitation proceedings on June 22, 2018, according to an announcement posted on the Mt. Gox website on September 25, 2018.  

As a result, the estate hauled in about 26 billion yen ($230 million) in cash. According to Bloomberg estimates, the latest sale received an average of $8,100 per bitcoin and $1,190 per bitcoin cash. Current values of the coins sit at $6,420 and $438, respectively.

This is not the first time Kobayashi has offloaded a huge chunk of crypto. Over a period that correlated with a decline in market prices after December 2017, the trustee sold more than $400 million worth of bitcoin and bitcoin cash. Some accused him of…

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