Mt. Gox Creditors Face Up to Three Month Wait for Bitcoin Repayments

Mt. Gox, the defunct cryptocurrency exchange, has begun making repayments to creditors in bitcoin and bitcoin cash, but the process could take up to three months for some. The timeline for receiving repayments varies depending on the cryptocurrency exchange used to claim them. Kraken is given 90 days to process payouts, while Bitstamp may take up to 60 days. BitGo will have payouts visible within 20 days. SBI VC Trade and Bitbank will both complete payouts within 14 days. The trustee of Mt. Gox has stated that repayments will be made promptly as long as certain conditions are met, including confirmation of the validity of registered accounts and acceptance of the agreement by the designated crypto exchanges. In the meantime, Bitcoin's price has dropped below $54,000, experiencing a 6.48% decline over the past 24 hours. The broader crypto market has also seen over $665 million in daily liquidations across centralized exchanges.