Mt. Gox has shifted $364 million in Bitcoin to B2C2 this month
Mt. Gox, the bankrupt crypto exchange, has moved approximately $364.4 million worth of Bitcoin to crypto liquidity provider B2C2 Group this month, according to an analysis by Lookonchain.
Lookonchain, citing data from Arkham Intelligence, reported that Mt. Gox has been transferring 200 to 300 BTC daily to B2C2 on weekdays since Bitcoin surged past $100,000 on Dec. 5. These consistent transactions suggest a structured approach to liquidating assets.
Mt Gox Bitcoin Transfers (Source: Lookonchain)
B2C2 is a prominent crypto market maker and liquidity provider based in Japan and the UK. In December 2020, the firm was acquired by SBI Financial Services, a major player in the Japanese financial sector.
Although Mt. Gox has not commented on these transfers, market analysts believe they align with its strategy to reimburse creditors. Since repayment efforts began in July, B2C2 has facilitated some of these payouts.
Despite the recent transfers, Mt. Gox retains a significant holding of 36,085 BTC, valued at $3.4 billion at current prices, according to Arkham Intelligence data.
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