Mt. Gox Shouldn't Stay Down... Or Should It?

Mt. Gox Shouldn't Stay Down... Or Should It?

Mt. Gox's petition for bankruptcy protection during a proposed reorganization was rejected two weeks ago by a Japanese bankruptcy court. As a result, the beleaguered exchange has been ordered into liquidation. Unless or until CEO Mark Karpeles makes himself available in person to provide a deposition to courts in the United States, the same is likely to be the outcome for the bankruptcy filing by the company's US subsidiary. In response, a group of investors calling themselves "Sunlot Holdings, Ltd." has proposed a customer led reorganization under the title "Save Gox." I started writing....


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Quotes

We are acutely aware that digital currency is an inevitable technical development that will lead to significant innovation in online commerce, financial systems, international payments and remittances and global economic development.

Dr. Christos Vlachos, Chief Financial Officer of University of Nicosia