Mt. Gox Bankruptcy for 22 Billion Dollars?
The 4th creditors meeting in Tokyo for the Mt. Gox bankruptcy case wrapped up today with a staggering report of claims. 2,663,398,225,570 JPY which is roughly worth 22 billion dollars was claimed in the report by creditors. The report came from the Tokyo District Court, Collegiate Section of the 20th Civil Division. Breakdowns of the numbers in Bitcoins....
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Bankruptcy Protection. So, Mt. Gox filed for bankruptcy protection in Tokyo on Friday. The detailsemerging today of the magnitude of the losses are frankly, staggering. Karpeles may have overseen the loss of up to half a billion dollars worth of Bitcoins. The first lawsuit has already been lodged by Gregory Greene in the US District Court in Chicago. Mr. Greene had approximately $25,000 worth of Bitcoin. Greene's money is gone; everyone's money is gone. Mt. Gox has lost roughly 750,000 of client's Bitcoins as well as 100,000 of its own, almost 7% of total circulation. Karpeles apologized....
France-born Mark Karpeles, the head of collapsed Bitcoin exchange MtGox, is in deep legal trouble after Japanese prosecutors charged him with embezzlement. Karpeles faces charges of fraud over the disappearance of hundreds of millions of dollars in Bitcoin that belonged to Gox traders. Interestingly, a report says that the bankruptcy claims against Gox have added up to be six times the market cap of Bitcoin itself. The amount of all the bankruptcy claims filed by over 24,000 creditors is found to be ¥2.66 trillion, which translates to $22.09 billion USD. Bankruptcy claims filed by Gox’s....
Celsius Network had filed for bankruptcy following arguably the largest network collapse in the history of crypto. The lending platform had been caught in the crossfire, and further reports showed that it had a $1.2 billion hole in its balance sheet. The company, which has been going through bankruptcy proceedings in the US Bankruptcy Court […]
Celsius files for Chapter 11 bankruptcy. The company’s balance sheet shows a gap of $1.2 billion and reckless behavior with customer deposits.
Celsius Network had its first limited withdrawals back on June 13th, and it had taken about one month from that point for the company to finally come forward and file for bankruptcy. It put an end to the speculation in the market regarding the solvency of the company. In the end, the Chapter 11 bankruptcy […]