Former Mt Gox CEO fails in attempt to have case against him stayed
The former CEO of the now-defunct Mt. Gox had made a motion to stay his case, urging it to allow him enough time for an ongoing case in Japan to be determined.
The former CEO of the now-defunct Mt. Gox had made a motion to stay his case, urging it to allow him enough time for an ongoing case in Japan to be determined.
Brock Pierce, the founder of Blockchain Capital, recently revealed plans to try to revive the Mt. Gox cryptocurrency exchange.
Brock Pierce plans to recover the company’s $1.2 billion in assets and to disperse them to those who had their funds locked down in the collapse.
The revelations show significant sell-offs by the trustee, which researchers have linked to specific declines in value in BTC, BCHABC and the wider cryptocurrency sector.
The former CEO of failed cryptocurrency exchange Mt. Gox has reiterated that he is entirely innocent in the events leading up to its demise, in closing arguments at his trial in Japan.
Mt. Gox former CEO, Mark Karpeles, is now in a court in Tokyo, responding to accusations that he embezzled millions from the exchange during his tenure.
Nobuaki Kobayashi has disclosed efforts to convince the courts to grant an extension to the deadline for filing claims, in a move that would afford Mt. Gox claimants more time in lodging their applications for compensation.
With the deadline set at October 22, the race is now on for affected Mt. Gox clients to file their rehabilitation claims, to avoid missing out on the funds they’ve been waiting for.
A case in California is now waiting to be heard by a federal judge to determine if victims of the failed exchange can seek financial relief.
The lawyer appointed to oversee the Mt. Gox refunds, Nobuaki Kobayashi, has reportedly liquidated around $230 million worth of Bitcoin BCH and Bitcoin Core (BTC) in the past four months.
A Pennsylvania judge ruled that the U.S. state has no jurisdiction and that the only legal channel available to affected investors was to launch a suit in Japan, where Mt. Gox was headquartered.
Corporate users can now start filing their claims with now-defunct Japanese cryptocurrency exchange Mt. Gox.