NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Mt. Gox Creditor CoinLab Objects to Sunlot Holdings Revival Plan

newsbtc
newsbtc
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

One of Mt. Gox’s creditors and former operations manager both in the United States and Canada has filed an objection to a bold plan from Sunlot Holdings that would see the company reviving the disgraced exchange and promising to pay back investors who lost money.

They’re Seattle-based CoinLab, and they got themselves into an agreement with Mt. Gox in late 2012. Their role? Handle the sale and exchange of bitcoin for Mt. Gox investors in North America (Mexico excluded).

As pointed out by CoinDesk, the company later filed a lawsuit against Mt. Gox with the complaint the the Tokyo-based exchange did not fulfill their end of the agreement by providing CoinLab by providing enough resources to make the agreement work.

Today’s objection included that Sunlot’s proposal doesn’t take the claims of unsecured creditors — of which include CoinLab — into account in their plan, and will need additional consideration before anything is made final.

The objection reads:

Until it receives full assurances that its rights and defenses will be protected, CoinLab is compelled to seek to protect its interests now, before the flawed Sunlot Proposal (and procedural evasion) can gain an unfair advantage.

Interestingly enough, CoinLab added they they would be better suited to taking over the exchange, given its history with Mt. Gox. Not only that, but the company reminds the world that their agreement to service Gox investors in the United States is still active.

The objection didn’t come without retort, however.

Lawyers representing class action lawsuits against Mt. Gox fired back at CoinLab:

CoinLab is factually and legally wrong and seems only to trying to influence the orderly procedures of both the Class Action Litigation and the Japanese court system. CoinLab seems to be doing this because it views itself as a competitor to Sunlot and wants to bid.

So essentially what we have is a situation where CoinLab doesn’t want to see Sunlot get involved with Mt. Gox, and Sunlot doesn’t want CoinLab to get involved, either.

Our friends at CoinDesk have a great write-up on this with additional information, which you can read here.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin stijgt ondanks ETF uitstel – institutionele vraag groeit exponentieel

Dogecoin stijgt ondanks ETF uitstel – institutionele vraag groeit exponentieel

Het enthousiasme rondom Dogecoin lijkt groter dan ooit. Institutionele investeerders lijken massaal te willen investeren in deze meme coin en...

Lars Diederiksen 4 hours ago
Solana

Solana (SOL) Bulls Complete Bullish Breakout — Eye $360 Mid-Term Target

Solana (SOL) has emerged as a major headliner following an impressive 20.89% gain over the last week. Solana’s price now...

Semilore Faleti 5 hours ago
Ethereum

Ethereum Outflow Signals Strength: 56,000 ETH Pulled From Exchanges

The steady appreciation in the Ethereum price continues to mirror how resilient the cryptocurrency has become in the market. Despite...

Opeyemi Sule 10 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

xrp-flambee-marche-crypto

XRP et flambée du marché crypto : que faire les prochaines semaines ?

guillaumev 28 minutes ago
solana-depasse-bnb-capitalisation-record-sol

Solana dépasse à nouveau BNB : vers une capitalisation record pour SOL ?

guillaumev 59 minutes ago
Ethereum

Ethereum’s MVRV Hits 1.97 — Can Bulls Hold Their Ground?

Semilore Faleti 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通貨投資の専門家が推す有望銘柄 ― XRP・カルダノ以上の期待

    仮想通貨投資の専門家が推す有望銘柄 ―...

    21 minutes ago
  • 注目のico仮想通貨が100万ドル調達 ― マイン・トゥ・アーン型ミームコインの可能性

    注目のico仮想通貨が100万ドル調達 ―...

    21 minutes ago
  • イーサリアム 今後の価格予測:機関投資と長期需要で2025年に9,000ドル到達の可能性

    イーサリアム...

    22 minutes ago
  • ビットコイン 今後の価格予測:インフレ上昇の中で利下げ期待強まり、11万5,000ドル付近で推移

    ビットコイン...

    22 minutes ago
  • シバコイン 今後はどうなる? レジスタンス突破の可能性を探る

    シバコイン 今後はどうなる?...

    22 minutes ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.