Analysis: Mt. Gox Transfers $364.4 Million Worth of Bitcoin to B2C2 Group
Mt. Gox, the bankrupt crypto exchange, has recently transferred approximately $364.4 million worth of Bitcoin to crypto liquidity provider B2C2 Group, according to a recent analysis by Lookonchain. This move has caught the attention of market analysts, as it signifies a structured approach to liquidating assets.
Consistent Daily Transfers
Lookonchain, citing data from Arkham Intelligence, revealed that Mt. Gox has been transferring 200 to 300 BTC daily to B2C2 on weekdays ever since Bitcoin surged past $100,000 on Dec. 5. These consistent transactions suggest a strategic plan in place for the exchange to manage its assets efficiently.
B2C2: A Key Player
B2C2, a renowned crypto market maker and liquidity provider based in Japan and the UK, has been instrumental in facilitating these transfers. The firm, which was acquired by SBI Financial Services in December 2020, has played a significant role in Mt. Gox’s efforts to reimburse creditors.
Remaining Holdings
Despite the recent transfers, Mt. Gox still holds a substantial amount of Bitcoin, with 36,085 BTC valued at $3.4 billion at current prices, according to Arkham Intelligence data. This indicates that the exchange is carefully managing its remaining assets as part of its repayment strategy.
