Mt. Gox files for bankruptcy, exposing the bitcoin farce.
"The beleaguered MtGox bitcoin exchange has officially filed for bankruptcy in Tokyo. According to the Wall Street Journal, Bitcoin held an impromptu press conference that addressed recent rumors. They state that they have over $60m in liabilities against just $30m in assets, and confirm the loss of over $500m worth of Bitcoins, split between customers' balances (750,000 BTC) and company assets (100,000 BTC). Owner Mark Karpeles said, 'There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble."Weakness in the system. Like maybe that bitcoin was a electronic fantasy?
Ten signs of growing panic in the banking sector.
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