The holding company currently in charge of Mt. Gox following its eventful spiral downward is reportedly looking to sell off company assets in a last-ditch effort to raise cash, the Wall Street Journal reports.
Said assets are said to be of no use to the holding company at this point. They include trademarks for ‘bitcoin’ in the European Union and Japan along with the bitcoin.com domain name (which is currently being used by Blockchain.info).
At minimum, they are hoping to raise ¥100 million — about $1 million USD for the intellectual property.
What’s interesting in this particular case is that it’s unclear as to whether or not the money raised from the sale of trademarks will be used to (at least in part) reimburse those who lose money in the exchange’s fiery collapse in February.
It is estimated that some 850,000 bitcoins were lost in the collapse, worth some $489 million at the current exchange rate. Mt. Gox announced some weeks later they managed to recover 200,000 bitcoin from a wallet they thought was empty.
Just how will members of the community react if they don’t manage to get a single cut?
Not well, as you can imagine.
But they don’t actually have any legal obligation to pay back investors, as part of investing is assuming the risk of loss (although in this case most people didn’t think they would lose it all due to an exchange’s incompetence).
More information on this as it becomes available.
[textmarker color=”C24000″]Source[/textmarker] Wall Street Journal