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Mt. Gox is reportedly planning for liquidation rather than rebuilding its business [Confirmed]
Apr16
Mt. Gox, the fallen Bitcoin exchange that was once the toast of the virtual currency world, is reportedly ditching plans to rebuild itself under bankruptcy protection, in favor of company liquidation, the Wall Street Journal reports. Update: An announcement from Mt. Gox has confirmed that it will not rehabilitate the company as was previously planned. Interestingly, the Journal reports that a source close to Mt. Gox believes there is “still hope a buyer for the exchange could be found.” Such an eventuality would help investors, who stand to recoup less of their investments if Mt. Gox is liquidated, although the…
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Mt. Gox, the fallen Bitcoin exchange that was once the toast of the virtual currency world, is reportedly ditching plans to rebuild itself under bankruptcy protection, in favor of company liquidation, the Wall Street Journal reports. Interestingly, the Journal reports that a source close to Mt. Gox believes there is “still hope a buyer for the exchange could be found.” Such an eventuality would help investors, who stand to recoup less of their investments if Mt. Gox is liquidated, although the situation is far bleaker for the exchange’s customers. Notifications on Mtgox.com as of April 16 2014 The site imploded…
This story continues at The Next Web