March 2025 – Mik4mob

Gox moved $1 billion worth of Bitcoin in its third major Bitcoin transaction.

Mt. Gox also shuffled a total of 12,000 Bitcoin worth over $1 billion on March 6 and another 11,833 Bitcoin on March 11.

Bankrupt crypto exchange Mt. Gox has just shifted 11,501 Bitcoin in its third significant transaction in less than a month.

Blockchain analytics firm Arkham Intelligence alerted the community of the transfer on March 25 on X, revealing the Japanese exchange had sent 893 Bitcoin
BTC
$87,135
worth around $78 million at current prices to the Mt. Gox cold wallet (1Jbez) and another 10,608 Bitcoin, worth around $929 million, to another wallet, the Mt. Gox change wallet (1DcoA).

The latest move comes after Mt. Gox shuffled a total of 12,000 Bitcoin worth over $1 billion on March 6 and another 11,833 Bitcoin on March 11.

Blockchain analytics platform Spot On Chain said in a March 25 post to X that one of the previous transfers this month ended up in the crypto exchange Bitstamp.

Spot On Chain speculates the 893 Bitcoin “sent to the warm wallet will be moved out shortly too.”

Arkham data shows the exchange still holds about 35,000 Bitcoin worth $3.1 billion across wallets it controls.

Many speculate significant movements from Mt. Gox could mean creditor payouts are around the corner. Creditors have the option to receive their payouts in Bitcoin.

A July 2024 Reddit poll following the exchange’s first payout found creditors were not rushing to sell their Bitcoin payouts.

Mt. Gox fell into bankruptcy in early 2014 after suffering an 850,000 Bitcoin loss in one of the biggest crypto hacks ever recorded. Before the security breach, it was the largest Bitcoin exchange, handling around 70-80% of trades.

After its bankruptcy in February 2014, a Tokyo court appointed a trustee to manage the bankruptcy proceedings and compensate creditors with the exchange’s assets.

However, last October, the trustee in charge of the exchange’s Bitcoin stash extended the deadline, pushing it by a full year to Oct. 31, 2025, claiming many creditors “still have not received their repayments because they have not completed the necessary procedures for receiving repayments.”

Last December, Mt. Gox also moved over 24,000 Bitcoin, worth nearly $2.5 billion, to an unknown address after the cryptocurrency hit a milestone of $100,000.

Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Today in crypto, the head of President Trump’s crypto council said stablecoin legislation will likely be passed imminently, Grayscale’s Bitcoin Mini Trust ETF (BTC) is the only fund to maintain a positive net inflow of funds in March, and Donald Trump’s SEC Chair pick Paul Atkins’ confirmation hearing is reportedly set for March 27.

Bo Hines: Expect stablecoin legislation “in next two months”
The executive director of the President’s Council of Advisers on Digital Assets, Bo Hines, told the Digital Asset Summit in New York that stablecoin legislation is “imminent” following the Senate Banking Committee’s swift approval of the GENIUS Act earlier this month.

The GENIUS Act stands for the Guiding and Establishing National Innovation for US Stablecoins, which sets out to guidelines for stablecoin issuers. On March 13, it passed the Senate Banking Committee in a bipartisan 18 to 6 vote.

“We saw that vote come out of the Senate Banking Committee in extremely bipartisan fashion,” Hines said. “I think our colleagues on the other side of the aisle also recognize the importance for US dominance in this space, and they’re willing to work with us here, and that’s what’s really exciting about this.”

When asked about when the final stablecoin legislation will arrive on President Trump’s desk, Hines gave the timeline of the “next two months.”

All but 1 US spot Bitcoin ETF in the red this March
Except for Grayscale’s Bitcoin Mini Trust ETF (BTC), all other United States spot Bitcoin exchange-traded funds (ETFs) had net negative performances in March as analysts expect a bearish Bitcoin trend of up to 12 months.