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25 Nov, 2014

Kraken to handle bankruptcy claims

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The bankruptcy trustee for Mt. Gox announces it will work with California-based Bitcoin exchange, Kraken, to return the money left in the estate to the company’s 127,000 creditors. Kraken CEO Powell says the company will help with the claims process, including evaluating the assets owed to creditors, and that it will assist in the investigation of Mt. Gox’s collapse. He says the trustee will have the final decision on payments in Bitcoin:

Allowing the creditors to go on without reinvestment, I think, would be very wrong. We’ve got to have the money that was locked up for the last 10 months returned as soon as possible.

On whether the exchange should be revived:

There are no assets, no brand. There is nothing to speak of to revive.

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