Good News for Mt. Gox

Good News for Mt. Gox

Mt. Gox, the Bitcoin exchange launched in July 2010, which is based in Tokyo will be re-opening shortly, after it suspended its trading operations and filed for bankruptcy protection from its creditors in February 2014. This decision comes after the Japanese courts approved the civil rehabilitation plan which intends to repay the creditors in cryptocurrency.

In a statement made by Brock Pierce, he stated “The only person who would have a reason to be against me is Mark Karpeles. I was just with him a few days ago. Mark seems to be on the same page as I am.”

Reportedly, Brock Pierce has a major stake in the Mt. Gox exchange. Most people were introduced to Bitcoin, after news of the failure of Mt. Gox broke out. As a result, one can understand why Pierce wants to write a happy ending to the Bitcoin chapter.

The crypto market experienced a wildly volatile week, with users making massive gains towards the end of the business week.

News of the crypto markets was more monotonous and repetitive with users trying to figure out when the legendary market volatility was expected to return. Joseph Young, a tech, financial and bitcoin journalist based in Hong Kong who works with leading media and publishing companies to introduce innovative ideas, concepts and technologies was uncertain about the cause of the boom while, P.H. Madore, a crypto expert, is of the feeling that low mortgages could drive a more significant run in the months to come.

Reportedly, The Telegram Open Network’s project, is almost complete, with few minor changes to be made. The launch which was initially scheduled for January has now been re-scheduled in the month of March. A number of reports suggest that The Telegram Open Network has the potential of becoming one of the world’s largest blockchain platform. Whether or not, the Telegram Open Network outperforms its competitors is something only time can tell.

This week, a video of Vitalik Buterin, a co-founder and inventor of Ethereum surfaced the internet. The video featured Buterin thrashing “centralized piles of trash” which supposedly over – promise transactions per second. He didn’t stop there but went on to question the security and soundness of his rivals and also made fun of the relatively small amount of decentralization in some rival blockchain firms.

Changpeng Zhao, a Chinese-Canadian business executive, who is the founder and CEO of Binance, the world’s largest cryptocurrency exchange by trading volume, as of April 2018, in his statement this week, said, “Binance is ready to survive any number of years, no matter if it’s bear or bull. We basically don’t really look at the market too much ― not as much as people actually think we do. We just keep our heads down and build features.”

Speaking about Amazon, Zhao said that it is inevitable that Amazon will issue its own coin.

Leon Teague has recently joined FinanceOrange team as a Sub-Editor. He has years of experience in writing about finance industry and also worked for local newspapers previously. He is an intense traveller. In his free time, he loves to explore unexplored places.

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