Mt.Gox Creditors Start Voting on Draft Rehabilitation Plan
Main page News, Bitcoin, Crypto Market, Cryptocurrency
Hot topic
31 May
1551 1k

Mt.Gox victims can now vote on a draft rehabilitation plan. However, the proposal will only be passed if a majority vote for it. According to rehabilitation trustee, Nobuaki Kobayashi, the deadline for voting is set for October 8, 2021.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

In order for the rehabilitation plan to be approved, both of the following are required:

  • The agreement of a majority of the number of voting rights holders voting on the draft rehabilitation plan.
  • The agreement of not less than one half of the total amount of the voting rights holders.

Mt.Gox was declared bankrupt in 2014, and in mid-2018 it was decided to start a rehabilitation process against it. Kobayashi was expected to submit the plan by the end of the same year, however, it had been postponed several times, with the deadline for the last postponement expiring today.

BlackRock Studying Bitcoin's Countercyclical Benefits

The rehabilitation will allow lenders to receive payments in cryptocurrencies. Currently, approximately 138,000 bitcoins (EXANTE: Bitcoin) are stored in the Mt.Gox wallets, which were worth $83 million in 2014 and have increased to $5.2 billion today.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error