Arkham Intelligence data highlighted that a Mt Gox address transferred BTC worth $1.07 billion to a new address, 1Mo1n. The data also revealed that the exchange transferred $15 million worth of BTC to a Mt Gox cold wallet address. Blockchain analytics firm Arkham Intelligence revealed a Mt Gox wallet transferred 12,000 BTC on Thursday. The exchange distributed 166.5 BTC worth $15 million to its cold wallet (1jbez) and 11,834 BTC to an unmarked address.
Mt Gox moves over $1 billion BTC to an unknown wallet Arkham Intelligence reported that a Mt Gox address identified as 1PuQB transferred 11,834 BTC to an unmarked address labeled 1Mo1. The analytics platform also reported that 166.5 BTC was transferred to the exchange’s cold wallet. The transaction is the exchange’s first move since January when it transferred smaller amounts of BTC to its cold wallets.
Mt Gox wallets moved $1 billion BTC earlier today, March 6, 2025. Source: Arkham Intelligence In December, Mt Gox transferred 1620 BTC to an unidentified address. The defunct crypto exchange also moved 24,000 BTC worth approximately $2.47 billion on December 5. The move raised concerns among investors who warned about potential sell-offs. Coingecko data revealed BTC maintained its price above the $100,000 mark.
Mt Gox filed for bankruptcy in 2014 after losing over 800,000 BTC to theft from its hot wallets. After years of bankruptcy proceedings, creditors are still pursuing their payouts. In July 2024, the exchange announced it would begin its repayment process to its creditors.
See also Bitcoin Open Interest drops to six-month low It added that all regulatory measures were implemented to ensure a smooth repayment process. Shortly after the announcement, the exchange transferred 140,000 BTC to an unknown address. Coingecko data revealed that BTC’s price fluctuated from $70,000 to $67,000 in a few hours. The exchange announced it extended its payback deadline to October 31, 2025. Mt Gox’s transfers are often followed by payouts to creditors that have historically caused market reactions.
Data revealed the latest transfers have had little to no impact on BTC’s prices, even as traders remain cautious about potential sell-offs in case the repayments begin. In December, the Japanese exchange sent 3,631.87 BTC to the market maker B2C2 as part of its repayment process. Arkham intelligence data highlighted that Mt Gox-linked wallets still held over 36,000 BTC worth $3.26 billion.
Analysts report that Mt Gox’s latest transfers have had little to no impact on BTC’s price Coinmarketcap data revealed that the Mt Gox transaction coincided with a market rebound, with Bitcoin reclaiming $92,000. Crypto analyst Ali Charts commented that if BTC reclaimed $97,000, it could gain momentum towards $150,000. Investors expressed their concerns that large transactions could lead to sell-offs by creditors once repayments began. Others speculated the latest transfer could be in preparation for its distribution. Peter Schiff, a BTC critic commented that despite the market concerns, past transactions have not led to significant price drops.
See also BTC posts second-largest realized losses for this bull cycle Investors reacted to Trump’s tariff implementation on Monday, which rattled global markets including cryptocurrencies. Cryptocurrencies across the board recorded sharp declines as the U.S. stock market recorded declines.
U.S. President Donald Trump will meet crypto stakeholders on Friday for the first White House Crypto Summit. Business journalist Eleanor Terrett said the event’s guest list was smaller than expected with twenty-five participants. Some confirmed attendees include Michael Saylor, Strategy’s chair. Other crypto players expected at the summit include Robinhood CEO Vlad Tenev and Coinbase’s CEO Brian Armstrong.
Bitcoin magazine CEO David Bailey and Exodus CEO J.P Richardson also confirmed their attendance. Government officials such as David Sacks and others from the presidential working group also confirmed their attendance. The U.S. government already announced support for five cryptos: Bitcoin, Ethereum, ADA, Solana, and XRP. Sacks revealed the government will unveil more details about the United States crypto reserve at the summit.
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