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Mt. Gox Postpones Repayment Deadline to 2025, Allaying Concerns of Bitcoin Sell Pressure

The trustee of Mt. Gox, the once-largest crypto exchange that suffered a major hack in 2014, has postponed the deadline to repay creditors by one year to October 2025. This news is expected to alleviate concerns of potential supply overhangs in the near term. The delay comes as the exchange started repaying recovered assets to creditors in July, but still holds a significant amount of bitcoin. Many creditors have not received their repayments due to various issues. Bitcoin prices reacted negatively earlier this year to the news of Mt. Gox's distribution, and delaying the repayment deadline could mitigate some worries, although there may still be volatility once these funds begin moving again.

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