It may not have kept anyone from going to Davos, but people are still pretty pissed at the Swiss over the whole surprise-scrapping-of-the-franc-euro-cap thing. Granted, those people are mostly ones who lost a great deal of money in the ensuing surge in the franc, but such people are legion. For instance, BlueCrest Capital’s Peter von Maydell and COMAC Capital’s Colm O’Shea, who no longer have hedge funds to run. Or Fortress Investment Group’s Mike Novogratz, who hasn’t quite lost as much on the franc as he has on the bitcoin, but who still already has an 8% hole to dig out of this year. Or Interactive Brokers Group, which is pretty sure the $120 million it has lost on the mess isn’t coming back. Read more »
Fortress Investment Group
Unless their managers enjoyed being kneed in the balls and kicked in the face until they’re coughing up blood in which case, this month’s been great. Read more »
Rick Schaden founded Quiznos and then ran it into the ground, clearing the way for Avenue Capital Group and Fortress Investment Group to snap it up two years ago. So he thinks it’s pretty ungrateful for them to turn around and sue him, especially after they allegedly agreed not to. Read more »
Today, we learned two things about Mt. Gox CEO Mark Karpelès: He owns a suit and is, in fact, still in Japan, where he made a quick trip to Tokyo District court to place his collapsed bitcoin exchange into bankruptcy, after hackers made off with half a billion dollars worth of fake money.
Bitcoin exchange Mt. Gox said Friday it was filing for bankruptcy protection after losing almost 750,000 of its customers’ bitcoins, marking the collapse of a marketplace that once dominated trading in the virtual currency.
The company said it also lost around 100,000 of its own bitcoins. Together, the lost bitcoins would be worth approximately $473 million at market prices charted by the CoinDesk bitcoin index, although the price of Mt. Gox bitcoin had fallen well below that index after it stopped bitcoin withdrawals in early February….
“There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble,” Mr. Karpelès said during a packed news conference at the Tokyo District Court press club.
The company’s lawyer said at the news conference that Mt. Gox had outstanding debt of about ¥6.5 billion ($63.6 million) with assets worth ¥3.84 billion.