Navigating the MTI Liquidation: Understanding Your Role as an Investor or Participant
In the intricate web of MTI (Mirror Trading International) liquidation, understanding your role and the potential outcomes is crucial. MTI, now in the throes of liquidation, has affected numerous investors and participants, each with unique concerns and stakes. This blog aims to clarify these roles and how GetaQuid is assisting in navigating this complex situation.
1. The MTI Landscape: A Brief Overview
MTI, known for its Bitcoin-based trading model, has recently entered liquidation, affecting a wide range of investors and participants. This has raised numerous questions about recovery expectations, payment assurances, and timelines.
2. Who is Affected?
At GetaQuid, we categorize those affected into two main groups:
- MTI Investors: These are individuals who primarily invested Bitcoin in MTI. Their main concern revolves around the recovery of their investments.
- MTI Participants: This group includes those who promoted MTI's products with minimal or no investment. Their engagement was mostly in a non-investor capacity.
3. The Transaction Nature
All transactions within MTI were conducted in Bitcoin. However, GetaQuid believes that handling this liquidation in Fiat Currency (Rand or relevant transacting Fiat currency) at the time of Bitcoin deposit is the fairest approach.
4. Categorization by GetaQuid
We at GetaQuid recognize three main classes among those we represent:
- Wholesale Losers: Individuals who invested in MTI but never withdrew any funds.
- Net Losers: Those who withdrew less in Fiat currency value than what they invested.
- Net Winners: Investors who managed to withdraw more in Fiat currency value than their initial investment.
The MTI liquidation process is complex and requires a nuanced understanding of each investor's and participant's position. GetaQuid is committed to providing tailored support and guidance, ensuring that every claim and representation is addressed with the fairness and attention it deserves. For more detailed insights and continuous updates, visit our website at www.getaquid.com.
This page reflects the categorisation of the MTI participants GetaQuid is working with.
MTI Investors/ Participants that tend to come to GetaQuid and with whom we have supported in getting their claims or representation sorted;
MTI; Mirror Trading International - MTI is now in Liquidation
MTI Investors - represent mostly those who invested Bitcoin in MTI
MTI Participants - there is a class that only promoted the MTI product and hardly made any investment
The transactions between the MTI Investors and Participants were done in Bitcoin value. It is our opinion that the fairest way to deal with this liquidation is to work in Fiat Currency value (Rand or Transacting Fiat currency value) at the time of depositing the bitcoin.
Therefore Equivalent Fiat currency value of the Bitcoin, when it went into MTI, is set off against the Fiat currency value of the Bitcoin withdrawn, at the date it was withdrawn.
Main Classes represented by GetaQuid;
Wholesale Losers - only invested in MTI and never withdrew anything from their accounts
Net Losers - Invested in MTI but withdrew less in Fiat currency value than what they invested
Net Winners - withdrew more in Fiat currency value than what they invested in MTI