Mt. Gox’s creditors will meet today, March 25, as part of a compensation process that seems to go on and on. This news comes at a unique time: amid a pandemic and with the world on the brink of economic crisis. It calls to mind again the 2014 collapse of Mt. Gox, the Japan-based cryptocurrency exchange that once accounted for 70% of the world’s Bitcoin (BTC) trading, a signal moment in crypto history.
In anxious times like these, people are inevitably asking: Can a failure of this scale happen again? Earlier this week, the crypto hedge fund Adaptive Capital announced that it would cease operations after suffering heavy losses during the March 13 crypto market meltdown. Other disruptions are expected as entire national economies shut down to fight the coronavirus.
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