Tuesday, December 26, 2017

Japan"s Largest Bank Is Preparing A Contingency Plan For A Bitcoin Exchange Collapse

The February 2014 collapse of Tokyo-based bitcoin exchange Mt. Gox was, for more than 24,000 investors around the world, a traumatic event. It also ushered in a two-year crypto bear market that saw the price of a single bitcoin plunge from a peak of $1,200 to a low of around $200 before the torrid bull market of the present day began. And as the bankruptcy and legal issues surrounding the collapse continue to wend through the Japanese legal system, none of these investors have received a single crypto cent of remuneration – despite the ballooning valuation of the exchange’s remaining assets.

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