Mount Gocks accounted for 70 percent of the global exchanges.

Currently, the ranking of cryptocurrency futures exchanges 바이비트 대회 is first, Binance second, ftx third, and okex is generally ranked. Did you know that in 2014 there was a cryptocurrency exchange that had more shares than the current Binance + ftx + okx share combined? That’s Mt. gox. In 2014, Mount Gocks accounted for 70 percent of the global exchanges.

Jed mccaleb, the co-founder and former CTO of Ripple Labs, who created the cryptocurrency Ripple, founded Mount Gox.

Jed McCarlap became interested in a card game called Magic the Gathering Online in 2008 and thought about creating an exchange where he could trade the cards used in the game. So we’re going to create an exchange called Magic the Gathering Online Exchange. MT.GOX is a collection of key spellings of the name.

Then Jed McCarlap came across Bitcoin, and he was amazed at the innovation of Bitcoin, and decided to run an exchange that could trade it with real money, and in 2010, Mount Gorks was transformed into a bitcoin-oriented exchange.

But in March 2011, Jed McCarlap sold the Mount Gork Exchange to a French program developer living in Japan. This led to the relocation of Mount Gox’s headquarters to Japan. At that time, bitcoin prices were less than a dollar.

The first time Bitcoin was stolen was in 2012. By this time, 25,000 bitcoins have already been stolen. But back then, bitcoin prices were very small, so the total damage wasn’t that big.

Then, on February 14, 2014, all transactions at Mount Gox were suspended and the website was taken offline. Then on February 28, Mount Gox will apply for civil rehabilitation at the Tokyo Civil Court.


The reason for the application was hacking, and a total of 850,000 bitcoins were found to have been hacked. However, more than 200,000 bitcoins were found in the wallet of the exchange that was used before 2011 during the self-investigation process. This is the bitcoin volume that has recently been attracting attention as a creditor compensation issue.

In 2014, the Tokyo Civil Court rejected the civil rehabilitation application filed by Mount Gox and began bankruptcy proceedings. The reason why the court made this decision at the time was that it was more advantageous for creditors to proceed with bankruptcy proceedings. Bitcoin prices in 2014 were on a steady decline. This is the result of judging that it is better for creditors to have a debt feast with the company’s remaining assets as soon as possible.


But in the course of the bankruptcy proceedings, bitcoin prices soar. At the end of 2017, it will eventually exceed $20,000. This puts creditors in a hurry. If you go into bankruptcy proceedings, the amount of compensation will be set at the time of the commencement of bankruptcy proceedings, in other words, the price of Bitcoin will be set at the price of early 2014. However, by the end of 2014, Bitcoin prices soared, and rather, the side that goes to civil rehabilitation applications received compensation in Bitcoin rather than bankruptcy proceedings, which was more advantageous to creditors.

So the creditors change the bankruptcy process to the civil rehabilitation process and the courts accept it.

If you kept the bankruptcy process going, Mount Gox could be able to compensate by selling only a small percentage of the bitcoins it held at the start of the compensation, which could have been hacked and made money.

As the legal process for compensation for Mount Gox begins in earnest in 2022, the cryptocurrency market will once again pay attention to Mount Gox.

This is because if 200,000 bitcoins owned by Mount Gox were temporarily in the market, it would be 8% of the world’s bitcoin distribution. This could have shocked the market right away and predicted a drop in bitcoin prices.

Currently, the remaining amount of Bitcoin to be paid to creditors is known to be about 137,000. And after interviewing some of the creditors, they said they didn’t want to put it on the market right away even if they were rewarded.

Currently, the Bitcoin repayment schedule announced on the website of Mount Gox’s creditors’ meeting begins on September 15, 2022. But they don’t know if it’s going to work right away. Even the repayment schedule is a few monthsIt could happen over a few years.

This is because each creditor still has work to deal with, such as KYC certification procedures and account information collection.

Market expectations are that Mount Gox’s compensation process will not have a significant impact on the actual bitcoin price. You don’t have to be too careful because you. I think it’s a word from Chairman Jerome Powell that has a significant impact on the current price of Bitcoin.

Until Corona hit the world, the trend of the U.S. stock market such as NASDAQ and bitcoin prices were not very related. Now, there are many times when the coupling is too obvious. In addition to chart analysis, there are more and more factors to pay attention to when investing in virtual currency.