TRUSTEE OF MT. GOX, sold more than 325 million euros in Bitcoin (BTC) and Bitcoin Cash (BCH) in the new year, does not believe that the sales have influenced the market prices of BTC and BCH.
The report is a transcript of a Q & A (questions and answers) at the 10th Mt. Gox Creditors’ Meeting, which took place on March 7, 2018. This involved the sale of BTC and BCH by former stock-exchange trustee Nobuaki Kobayashi.
The Japanese MT. Gox Crypto Exchange was the largest in the world until a hacker attack in February 2014 resulted in the loss of around 850,000 BTC. The recent sales of BTC and BCH by Kobayashi are part of an attempt to refund money to users who have lost money in the hack.
An early report released to the Tokyo District Court on March 7 said that BTC / BCH sales took place between the creditors’ meeting in September and March 7. However, the report released today makes it clear that the sale took place between December 2017 and January 2018.
The March 7 report detailing the amount of Bitcoin and Bitcoin Cash sold by Kobayashi over the two-month period led to the assumption that the big sell-off led to the market crash after the New Year.
Kobayashi stated that “after consultation with cryptocurrency experts” BTC and BCC [BCH], he did not make ordinary sale on a stock exchange, but in a manner that did not affect the market price while maintaining the security of the transaction as much as possible secured.
It is possible that today’s report was released as a way for Kobayashi to refute the allegations of its responsibility in the crash, as many in the crypto community had analysed the times of BTC and BCH transfers to deal with market drops in the price To connect. However, Cointelegraph found that a comparison of transfers and price showed that there was a negative daily link in the short term.
Kobayashi reported that he sold the two coins at a fair market price and chose the time of the sale “in consultation with the court”. Kobayashi also noted that he sold BTC and BCH separately, adding that there is no date for the sale of the remaining BTC and BCH.
“Large owners who sold for a hefty price drive down the price on FUD’s back over the” Tokyo Whale, “which will sell another 160,000 bitcoins, and it turns out that everything is complete B ***** *** Somebody else did dumping this way and manipulated the market, so once you start an avalanche, there’s no way to control it.