The defunct crypto exchange Mt. Gox has postponed its repayment deadline to next year.

Mt. Gox now plans to repay its creditors on Oct. 31, 2025. It had previously moved its repayment deadline from Oct. 31, 2023, to Oct. 31, 2024.

"As it is desirable to make the Repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline for the Repayments from October 31, 2024 (Japan Standard Time) to October 31, 2025 (Japan Standard Time)," the defunct exchange wrote in a Thursday release.

The postponement temporarily alleviates concerns of Bitcoin BTC +2.49% selling pressure driving down the token's price. In July of this year, Bitcoin fell 3.38% to below $59,000 — the lowest its price had been since May — around the time Mt. Gox moved 47,229 BTC ahead of a nearly $9 billion payout, The Block previously reported. Selling pressure involves a situation in which sellers outnumber buyers, causing an asset's price to drop.

Mt. Gox was a Tokyo-based exchange founded in 2010 that became one of the largest platforms for bitcoin trading. It suffered a security breach in 2014 that lost 850,000 BTC, causing the firm to halt withdrawals and file for bankruptcy protection. Mt. Gox intended to redistribute the 142,000 BTC, 143,000 Bitcoin Cash and 69 billion Japanese yen it still held.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。