Mark Karpelès, former CEO of the defunct cryptocurrency exchange Mt. Gox, has reassured followers that the current situation with Mt. Gox is stable. In a social media update, Karpelès confirmed that the trustee is transferring coins to a new wallet in anticipation of a planned distribution later this year. This clarification comes amid heightened anxiety in the crypto markets after Mt. Gox moved over $9 billion in bitcoin, prompting speculation about a possible imminent sale.

Karpelès emphasized that there is no immediate plan to sell bitcoin, a statement aimed at calming the market and addressing concerns from stakeholders closely monitoring the developments. The significant movement of funds had initially spooked the markets, causing uncertainty about the potential impact on bitcoin’s value. Karpelès’ update is likely to provide some reassurance to investors and traders, affirming that the ongoing preparations are part of an orderly process leading to the eventual distribution of assets to creditors.

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