Arrested MtGox founder can become multimillionaire

Mark Karpeles can become very rich again due to the fact of Bitcoin price jump
10 November 2017   922

The founder of the MtGox exchange, Mark Karpeles, against whom the lawsuit on charges of embezzlement is underway, can take advantage of the rise in the price of bitcoin to make a huge profit. This is reported by The Wall Street Journal.

Monetary claims of the creditors of the closed Japanese exchange MtGox are based on the price of bitcoin in relation to the yen as of April 2014 (50,058 yen per bitcoin). MtGox, in turn, belongs to a company controlled by the former head of the exchange Mark Karpeles. At the disposal of Karpeles is 200,000 bitcoins (assets of the bankrupt exchange), the price of which has increased 17 times since that time (836,761 yen for bitcoin).

The bankruptcy proceedings of the MtGox exchange show that millions of dollars will remain at the disposal of former shareholders after the financial claims of creditors are satisfied.

Carpels himself denies his guilt in a criminal offense and does not believe that he will be able to save even part of the money. He believes that it will be difficult for him to find a buyer. In addition, he stressed, assets after bankruptcy are usually sold at their value at the time when the company announced insolvency.

The current situation indicates that the existing regulatory framework is not designed to resolve disputes in the bankruptcy of cryptocurrency exchanges. Many creditors would like to return their money in bitcoin-equivalent, but the Japanese legislation in this context does not provide for ownership of an unphysical object.

Bitcoin Ethereum Crypto Summit comes to Texas

Richardson is hosting a 1-day conference - Bitcoin Ethereum Crypto Summit on May 12 to teach the basics and catch up with the the latest in the cryptoworld
20 April 2018   30

Leading cryptocurrency and blockchain experts are coming to Richardson to participate in Bitcoin Ethereum Crypto Summit 2018. This one day event will take place on May 12 at Noah's Event Center. BECS positions itself as an affordable crypto event providing the quickest way to experience and learn about cryptocurrency live and in person, learn the terminology, the concept, and the hands on information with no experience required, and the public is invited to take part and attend.

Here is the list of some of the topics and sessions that will be covered:

  • Bitcoin and Cryptocurrency 101 – All the basics you need to get started
  • Government Regulation of Cryptocurrencies
  • Meet the Altcoins – Fast-paced review of over 20 of the top alternative cryptocurrencies, including Ripple, Stellar, Stratis, Monero, Dash, and many more
  • Cryptocurrency and Taxes
  • Overview of Cryptocurrency Exchanges such as Coinbase, Poloniex, and more
  • Cold Wallets, Hot Wallets, Paper Wallets, and more – The main types, how to use them, and keep your crypto safe!
  • How To Spend and Accept Bitcoin, Ethereum, and other Cryptocurrencies
  • The Basics of Blockchain and Internet of Money
  • Trading Bots and Trading Software
  • User Experience and the Blockchain
  • Mining 101 – What is it, how does it work, and should you start mining on your own?
  • How To Start Your Own Token or Coin
  • Understanding Coin Price Indexes

Doors open at 8:30 am.