Saturday, March 29, 2014

Daily News: Reuters Technology News Headlines - Exclusive: Mt. Gox faced questions on handling client cash long before crisis

Saturday, Mar 29, 2014 07:07 PM PDT
Today's Reuters Technology News Headlines - Yahoo! News:

Exclusive: Mt. Gox faced questions on handling client cash long before crisis 
Saturday, Mar 29, 2014 07:07 PM PDT
Mock Bitcoins are displayed on a table in an illustration picture taken in BerlinBy Sophie Knight and Nathan Layne TOKYO (Reuters) - Two years before Mt. Gox filed for bankruptcy, a half dozen employees at the Tokyo-based bitcoin exchange challenged CEO Mark Karpeles over whether client money was being used to cover costs, according to three people who participated in the discussion. The question of how Mt. Gox handled other people's money - the issue raised by staff in the showdown with Karpeles in early 2012 - remains crucial to unraveling a multi-million dollar mystery under examination by authorities in Japan. The still-unresolved issue has thrown a spotlight on how Mt. Gox functioned as a hybrid between an online brokerage and an exchange. Essentially, the more than 1 million traders who used Mt. Gox at its peak had entrusted a 3-year-old firm to hold their money safely until they decided to cash out.
Full Story

You received this email because you subscribed to Yahoo! Alerts. Use this link to unsubscribe from this alert. To change your communications preferences for other Yahoo! business lines, please visit your Marketing Preferences. To learn more about Yahoo!'s use of personal information, including the use of web beacons in HTML-based email, please read our Privacy Policy. Yahoo! is located at 701 First Avenue, Sunnyvale, CA 94089.

No comments:

Post a Comment