# Mt. Gox Creditor Floodgates Are Opening

*Published: Jul 24, 2024*
*Source: https://www.bankless.com/fr/mt-gox-creditor-floodgates-are-opening*

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Mt. Gox creditors are set to receive Bitcoin and Bitcoin Cash from Bitstamp starting tomorrow. 

### What's the scoop?
- **Received Assets: **The exchange received Bitcoin, Bitcoin Cash, *and* Ethereum from the Mt. Gox trustees today.
- **Initial Transfers:** Mt. Gox first transferred 2,237 BTC ($147M) and another 382 BTC ($25M) to Bitstamp.
- **Additional Transfers:** A Mt. Gox-associated wallet transferred 32,371 BTC ($2.13B) to an unknown address. Another transfer of about $2.8B in Bitcoin was also reported.
- **Creditors and Amount:** Approximately 20,000 former Mt. Gox users will receive over $9B of crypto in total.

### Bankless Take:
For $9B of sell pressure coming online, the market is holding up well so far — Bitcoin in particular. With Kraken beginning distributions yesterday, it seems that the market gets more scared when countries sell their coins — even if the sizes proves larger. With consensus seeming to form around Bitcoin outperforming Ethereum in the short-term due to ETF dumps, any dips from these sales may be best viewed as opportunities to buy.