Follow Us

We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message

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

Article comments

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



Share:

More from Techworld

More relevant IT news

Comments



Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

Techworld White Papers

Choose – and Choose Wisely – the Right MSP for Your SMB

End users need a technology partner that provides transparency, enables productivity, delivers...

Download Whitepaper

10 Effective Habits of Indispensable IT Departments

It’s no secret that responsibilities are growing while budgets continue to shrink. Download this...

Download Whitepaper

Gartner Magic Quadrant for Enterprise Information Archiving

Enterprise information archiving is contributing to organisational needs for e-discovery and...

Download Whitepaper

Advancing the state of virtualised backups

Dell Software’s vRanger is a veteran of the virtualisation specific backup market. It was the...

Download Whitepaper

Techworld UK - Technology - Business

Innovation, productivity, agility and profit

Watch this on demand webinar which explores IT innovation, managed print services and business agility.

Techworld Mobile Site

Access Techworld's content on the move

Get the latest news, product reviews and downloads on your mobile device with Techworld's mobile site.

Find out more...

From Wow to How : Making mobile and cloud work for you

On demand Biztech Briefing - Learn how to effectively deliver mobile work styles and cloud services together.

Watch now...

Site Map

* *