Rahm Emanuel Is Affirmative in Tone when Taking About the Future of Cryptocurrency – Mt. Gox to Repay DebtorsMarch 23, 2019
Rahm Emanuel opines that the future of the cryptocurrency is affirmative. He believes that cryptocurrency has an earnest role to play when it comes to influencing the debt markets in third world countries.
The financial aspects of the global economy and the economy of individual nations will be reshaped with cryptocurrency.
He implied, “The trend lines are affirmative for its future. I do not know if it is ten years, and I do not know if it will be 20 years, but it is affirmative. I do not know what it is in terms of timeline. I know for sure it is an alternative method to trade, and therefore, I need to learn about it, and I need to be honest, as mayor, it’s not the top 100 things I would have to learn about.”
He further added, “One day, somebody will be figuring out – whether it will be Argentina, ten years from now or five years from now or about how to use cryptocurrencies in order to stay alive when they are facing a financial crisis, then you are going to find out that this moment has arrived.”
When talking about the next generation, “My kids will figure out how to get their hands on it.”
Mt. Gox will be settling down their debts with creditors after 5 years since it was hacked.
Nobuaki Kobayashi, Mt. Gox‘s trustee recently published that they are working on the claims made by their creditors. The Tokyo district court has been notified in this regard. This decision has not yet been made public.
The decision of the trustees are not yet known, and the decision will be made known over the next few days.
The trustees have stated that they do not have any plans to revive Mt. Gox. If the bankruptcy plans permit, they will be distributing the assets to the creditors.
If it is decided for the debt to be repaid using the cryptocurrency, then the credits will have to go through the exchange, and they will have to create an account to receive the long-awaited funds.
The most sought after information is revealed in the documents particularly concerning Mt. Gox and their balance of exchange. The report in the document reveals that they hold over $629 million in cash as on March 20, 2019.
The Rehabilitation trustee is also researching into the probable existence of additional Bitcoin that might be held by the Rehabilitation Debtor.