In this week’s bitcoin review, we take a look at the latest effort in reviving MtGox.
Will MtGox be bought out?
Two weeks ago, it looked like the final nail was in the coffin for MtGox after Mark Karpeles moved to liquidate the troubled exchange. This week, the Wall Street Journal reported that a last-minute move by investors may revive the exchange after all.
The Sunlot investment group, which includes bitcoin entrepreneur Brock Pierce and venture capitalists William Quigley and Matthew Roszak, first presented their plan in Februrary to Karpeles, who eventually agreed and sent a letter to the courts in support of it. Karpeles then also filed the motion to liquidate the exchange, starting those court proceedings. With the clock now ticking, the MtGox creditors involved in the class-action lawsuits in the U.S. and Canada reached a deal with the investment group to receive a 16.5 percent stake of…
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