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Arkham Intelligence, an on-chain data aggregator, has reported recent developments regarding the former cryptocurrency exchange Mt. Gox.
### Recent Mt. Gox Activity
In a recent update, it was revealed that Mt. Gox received $370,000 worth of Bitcoin from the U.S. exchange Kraken last night. The report indicated that Mt. Gox had emptied four of its wallets during this transaction. Arkham speculates that additional Bitcoin repayments to creditors from the troubled exchange may be forthcoming.
This year, Mt. Gox aimed to initiate compensation repayments to its customers, planning to disburse a total of 142,000 Bitcoin alongside approximately $69 billion yen in fiat currency. In July, the exchange moved 140,000 Bitcoin, valued at around $9 billion at that time, to several centralized exchanges like Bitstamp and BitGo in preparation for these payouts.
Earlier this month, Mt. Gox transferred $709 million worth of Bitcoin to the Bitstamp exchange. Prior to that, on August 14, it moved 33,141 Bitcoin—roughly $2 billion—to a new blockchain address as part of its preparations, and sent 117 Bitcoin (about $7 million) to OKX.
### Anthony Pompliano’s Insights
Financial entrepreneur Anthony Pompliano, a prominent Bitcoin advocate and founder of Pomp Investments, appeared on CNBC’s Squawk Box today to discuss the impact of the recent Federal Reserve rate cut and a similar move from the People’s Bank of China on Bitcoin’s performance.
Pompliano, known widely as Pomp, expressed his belief that Bitcoin is set to be the best-performing asset this year, with gold and oil futures following closely behind in terms of gains. He revealed that he sold all of his Ethereum to invest in Solana, as he believes the Solana blockchain offers superior technology compared to the second-largest cryptocurrency.
Regarding Bitcoin’s price performance, Pompliano suggested that the recent rate cuts would lead to an influx of cheap capital into the market, positioning Bitcoin as a significant beneficiary of these developments.
