Menu
Mt. Gox CEO selling Bitcoins.com, will give some proceeds to burned investors

Mt. Gox CEO selling Bitcoins.com, will give some proceeds to burned investors

The domain will go on sale July 24, with an opening bid of US$185,000

Mt. Gox CEO Mark Karpeles bows in ritual apology on Japanese TV while at a press conference on Feb. 28, when the bitcoin exchange filed for bankruptcy protection at the Tokyo District Court.

Mt. Gox CEO Mark Karpeles bows in ritual apology on Japanese TV while at a press conference on Feb. 28, when the bitcoin exchange filed for bankruptcy protection at the Tokyo District Court.

Mark Karpeles, CEO of the now-bankrupt Bitcoin exchange Mt. Gox, is auctioning off Bitcoins.com, a site Karpeles launched last year to provide information around the digital currency.

The domain will be sold July 24 by the U.S.-based auction house Heritage Auctions, with an opening bid set at US$185,000. The sale is expected to fetch as much as $750,000.

Mt. Gox was once the largest online exchange for buying and selling bitcoins, but was forced to file for bankruptcy earlier this year after a massive hacking incident, incurring debts of more than $63 million.

Bitcoins.com has been owned and operated by Tibanne Co., Ltd., the parent company of Mt. Gox. It is different from the singular Bitcoin.com, which is owned by Blockchain, which makes a Bitcoin wallet app.

Proceeds from the sale of Bitcoins.com will partly be used to provide relief to Bitcoin holders who lost money in the collapse of Mt. Gox, Karpeles said in a statement shared with Coindesk, a Bitcoin news site, and confirmed via email to the IDG News Service.

The money will also be used to keep Tibanne running, Karpeles said, but at least half of the sale price will be paid to benefit Mt. Gox creditors.

"It is difficult for us at this time to provide a more accurate figure," he said.

Despite Mt. Gox's fall, interest in Bitcoin remains high among businesses and investors alike.

A number of other online exchanges like Coinbase and Circle have raised millions of dollars from prominent investors like Andreessen Horowitz, which could give them the cash to buy up Mt. Gox's domain. That is, if they want to.

Zach Miners covers social networking, search and general technology news for IDG News Service. Follow Zach on Twitter at @zachminers. Zach's e-mail address is zach_miners@idg.com

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags business issuesInternet-based applications and servicesBitcoins.comMt. Goxe-commercefinancial resultsinternet

Featured

Slideshows

Educating from the epicentre - Why distributors are the pulse checkers of the channel

Educating from the epicentre - Why distributors are the pulse checkers of the channel

​As the channel changes and industry voices deepen, the need for clarity and insight heightens. Market misconceptions talk of an “under pressure” distribution space, with competitors in that fateful “race for relevance” across New Zealand. Amidst the cliched assumptions however, distribution is once again showing its strength, as a force to be listened to, rather than questioned. Traditionally, the role was born out of a need for vendors and resellers to find one another, acting as a bridge between the testing lab and the marketplace. Yet despite new technologies and business approaches shaking the channel to its very core, distributors remain tied to the epicentre - providing the voice of reason amidst a seismic industry shift. In looking across both sides of the vendor and partner fences, the middle concept of the three-tier chain remains centrally placed to understand the metrics of two differing worlds, as the continual pulse checkers of the local channel. This exclusive Reseller News Roundtable, in association with Dicker Data and rhipe, examined the pivotal role of distribution in understanding the health of the channel, educating from the epicentre as the market transforms at a rapid rate.

Educating from the epicentre - Why distributors are the pulse checkers of the channel
Kiwi channel reunites as After Hours kicks off 2017

Kiwi channel reunites as After Hours kicks off 2017

After Hours made a welcome return to the channel social calendar last night, with a bumper crowd of distributors, vendors and resellers descending on The Jefferson in Auckland to kickstart 2017. Photos by Maria Stefina.

Kiwi channel reunites as After Hours kicks off 2017
Arrow exclusively introduces Tenable Network Security to A/NZ channel

Arrow exclusively introduces Tenable Network Security to A/NZ channel

Arrow Electronics introduced Tenable Network Security to local resellers in Sydney last week, officially launching the distributor's latest security partnership across Australia and New Zealand. Representing the first direct distribution agreement locally for Tenable specifically, the deal sees Arrow deliver security solutions directly to mid-market and enterprise channel partners on both sides of the Tasman.

Arrow exclusively introduces Tenable Network Security to A/NZ channel
Show Comments