Bitstamp Commits to Accelerate Mt. Gox Payouts to Creditors

Mt. Gox Reimbursement Update

Bitstamp has pledged to expedite reimbursements to Mt. Gox creditors. The cryptocurrency exchange aims to distribute tokens significantly ahead of the 60-day timeframe stipulated in its agreement with the Mt. Gox trustee.

Prompt Response from Bitstamp

The announcement follows reports of Japanese creditors receiving compensation through Bitbank and Kraken exchanges. Bitstamp's swift response provides clarity on the repayment schedule.

Prioritizing Customer Service

Bitstamp has made clear its commitment to handling Mt. Gox creditor repayments promptly. As one of the designated exchanges, Bitstamp is obligated to disburse tokens within 60 days of receipt. However, the exchange is dedicated to reimbursing investors as quickly as feasible.

Market Interest and Timeline Clarity

The Mt. Gox reimbursement process has sparked significant interest in the cryptocurrency market. Bitstamp's announcement helps clarify the distribution timeline, which varies slightly for different exchanges.

• Bitbank and SBI VC Trade: Distribution completed within hours.
• Bitstamp: Up to 60 days.
• Kraken: Up to 90 days.
• BitGo: Up to 20 days.

Crypto Market Impact

The commencement of Mt. Gox reimbursements has generated market activity. Fears of potential price declines caused a brief dip in Bitcoin's value, but it has since recovered and is currently trading above $55,000.

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