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Mt. Gox abandons rebuilding plans and files for liquidation: WSJ

16
Apr
2014

Mt. Gox, the embattled bitcoin exchange that filed for bankruptcy protection last month after losing almost half a billion dollars worth of customers virtual funds, is now reportedly asking a Tokyo court for permission to liquidate. According to The Wall Street Journal, the once leading exchange has abandoned its attempt to rebuild the business under bankruptcy protection due to the complexity and unrealistic nature of the plans. One source says that Mt. Gox is still attempting to find a buyer, which may entitle creditors to a portion of future earnings.

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