The Dumpening
by jespow = Kraken CEO
For the record, Kraken was asked many months ago for advice on how to sell a large block of coins. Our answer was:
don't sell coins
If you have to, do it with an auction, which Kraken can facilitate
If you want to do it more privately, let Kraken's OTC desk broker it for you
We were explicit about not dumping a large amount of coins on the market. Unfortunately, it looks like the trustee made their own decision or was taking advice from elsewhere -- maybe whatever exchange they dumped those coins on. We had zero knowledge of these sales happening until it was announced at the recent creditors' meeting. Unfortunately, we have no visibility in to where, how or why the trustee sold those coins, nor whether any precautions were taken to prevent front running or self-dealing. Hopefully, the trustee will make it clear what their process was and put the questions to rest.
https://www.reddit.com/r/mtgoxinsolvency/comments/82ykgu/re_the_dumpening/
Topic: Kraken advised trustee against selling on market (Read 68 times)
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