Mt. Gox transferred $2.19 billion worth of BTC to a new address, as reported by Arkham Intelligence.

This transfer follows several billion-dollar transactions to exchanges like Bitbank, Kraken, Bitstamp, and SBI VC Trade for creditor repayments.

By July 24, Mt. Gox had repaid over 17,000 creditors.

Despite the significant distribution, Mt. Gox's wallets still hold $5.29 billion in BTC.

While some sell-side pressure is anticipated, Glassnode suggests many creditors are long-term investors, potentially easing market impact.

Bitcoin's price dropped to around $66,200 following the news.

Source: The Block