Tag: mtgox

Karpeles Admits to Running WillyBot, Pleads Not Guilty to Charges

Most Bitcoin users experienced the MtGox disaster first hand or heard accounts of it from other users. Mark Karpeles -the chief executive of MtGox- is standing trial on charges of embezzlement and data manipulation in the Tokyo District Court. He has plead not guilty to these charges. What happened with MtGox: A Brief History MtGox was one of the first time that Bitcoin users and traders got burned badly. There …
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Bitcoin Surpasses $30 Billion Market Cap

The past few days Bitcoin has been reaching and breaking past all time highs seemingly every hour. Last night, after a short pullback of 2%, massive buy orders appeared on exchanges pushing the price to new heights. Today, the market reached yet another all time high of $1892 per coin. Given the current price increase, Bitcoin’s market cap has risen over $3 billion since Monday only, putting it at a …
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MtGox Phoenix Rises – Exchange May Become Solvent if Bitcoin Price Keeps Rising

It seems that the recent price hike may give MtGox creditors a chance to recoup their losses. Mark Karpeles is hoping to distribute the remaining 202,185 Bitcoins assuming they reach 100% or more of their claim value. This is positive news, because if MtGox doesn’t become solvent it is required by Japan law to liquidate all its assets into Yen. MtGox filed for bankruptcy back in 2014 as a result of supposedly loosing 700,000 …
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Top 5 Bitcoin Crashes

Since Bitcoin’s inception in 2009 the market has never been forgiving. Bitcoin’s price exhibited major crashes and price swings which cased massive losses to many traders.  Its time to take a look at some of the hardest hitting market crashes in Bitcoin’s history. Welcome to themerkle.com and today we are counting down the top 5 bitcoin crashes. #5 The crash of the Great Bubble of 2011 On June 8th 2011, …
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