PANews reported on October 20th that, according to CryptoSlate, the Mt. Gox trustee must complete a three-stage process of repaying Bitcoin creditors: basic repayment, early lump-sum repayment, and interim repayments by October 31st. Currently, approximately 34,689 BTC remain in associated wallets. Bitcoin and Bitcoin Cash were distributed via Bitstamp, Kraken, or in cash, with some held in custody by BitGo. Historical data shows that approximately 64.1% of the funds were deposited into exchanges. If applied to the remaining balance, a worst-case scenario would see approximately 22,253 BTC simultaneously deposited, potentially creating approximately $2.4 billion in selling pressure. Kraken and Bitstamp have processing windows of up to 90 and 60 days, respectively. Actual deposits will be staggered and may also bypass order books through custody or over-the-counter (OTC) channels.
Mt. Gox repayments are due by October 31st, and the remaining 34,689 BTC may be released into the market.
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