Mt. Gox CEO to Auction Bitcoins.com, Share Proceeds with Creditors
The domain name Bitcoins.com, owned by Mt. Gox CEO Mark Karpeles, is set to be sold off through US-based auction house Heritage Auctions on 24th July. The sale of the domain name is part of Heritage's 2014 Domain Names Signature Auction and is expected to garner at least $750,000, owing to what the auction house calls the high-value of the domain name. The auction will begin with an opening bid of $185,000. It is perhaps the highest-profile auction of a bitcoin-related web address to date. In the past year, several domain names have been sold for hundreds of thousands of dollars, including....
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The French government will auction 611 bitcoins that were seized from hackers next week. There will be two sales comprised of 478 lots altogether. Each lot consists of between 0.11 and 20 bitcoins. Paris-based auction house Kapandji Morhange will auction 611 bitcoins on March 17. The company says this is the first auction of seized bitcoin by the French government. At the current price, this amount of bitcoin is worth almost $34 million. According to the auctioneer’s website, two sales will be conducted: one at 9 A.M. and the other at 2 P.M. The first sale consists of 437 lots of....
Ben McLannahan, writing in today's Financial Times, is reporting that Mt Gox creditors in Tokyo have demanded payments to them be paid in the form of bitcoins rather than cash. Mt Gox was once the largest online exchange but went offline in February of this year and revealed, or more accurately claimed that it had 'lost' 750,000 of its clients bitcoins as well as 100,000 of its own. Gox later claimed to have 'discovered' 200,000 lying around in an old digital file. In March of this year I wrote that $113 Million of bitcoins may be moving through the blockchain, and many of Mt Gox's....
The MT Gox saga is quickly becoming a distant memory, but as a second creditors meeting nears, voices are being raised and calls for resignations are starting to be made as creditors begin to lose patience. At the heart of the mystery is the alleged disappearance of - initially - 850,000 bitcoins. In an intriguing twists of events, only 10 days after declaring bankruptcy, MT Gox mysteriously found 200,000 bitcoins in an old format wallet, still leaving a huge black whole of hundreds of millions of dollars in unaccounted bitcoins to the tune of 650,000. Even more mysteriously, approximately....
Financial services firm Ernst and Young has announced it has successfully auctioned off 24,518 Bitcoins at a closed international auction which ended on June 21. The auction was the first of its kind in Australia and the second ever globally. Bidders were made to deposit $250,000 as well as meet other financial requirements to bid for the available 11 lots of 2,000 Bitcoins and one lot of 2,518 Bitcoins. Going by its current rate (1 BTC = $634), the auctioned 24,518 Bitcoins are worth about US$16 million. The Bitcoins are the proceeds of crime as part of the civil forfeiture connected to....
More than 40 hours after the close of the US Marshals Bitcoin auction, the value of 1 BTC against the US dollar has held almost perfectly stable. At the start of Friday’s auction at 6:00 AM EDT, 1 BTC was worth US$590 according to our price tracker. As of 2:00 PM EDT, 1 BTC was worth US$596. Some feared that the auction of more than US$17 million worth of bitcoins would cause a panic sell and possibly send the value of the cryptocurrency tumbling. Instead, a slight uptick was the result. The auction Friday was held by the US Marshals Service, which held about 30,000 bitcoins as a result of....