Nobuaki Kobayashi, the trustee of defunct cryptocurrency exchange Mt. Gox, announced Tuesday he had sold almost 26 billion yen ($230 million) in bitcoin (BTC) and bitcoin cash (BCH) for fiat currency between March and late June. Back in March he announced the sale of $407 million in the cryptocurrencies.
In a statement, he said the latest sale had taken place “before the order of commencement of Civil Rehabilitation Proceedings as a measure to secure interests expected to have already been obtained by the bankruptcy creditors in the Bankruptcy Proceedings.”
Those interests include the corporate creditors who were recently told they could file claims to get refunds, according to the trustee’s report. In the notice, the trustee explained a trust has been set up to preserve funds in fiat currency for those creditors of the bankrupt exchange.
Following the sale, which took place between March 18 and the start of the rehabilitation process on June 22, the balance in the trustee account was approximately 70,059 million yen, or around $621 million, CoinDesk noted. Read more here.