Best Of FORBES: Mt. Gox Goes Dark, Floyd Mayweather’s Next Big Fight

By February 25, 2014Bitcoin Business
Click here to view original web page at

Want to know more about Mt. Gox and Bitcoin’s plummeting prices? FORBES reporters give readers the essentials:

“Once, Mt. Gox was the most important business in the Bitcoin economy. Now, as it teeters on the brink of total failure, it’s become the cryptocurrency’s greatest liability and one that may call its future into question. Bitcoin’s value fell close to 23% from its already battered price to around $418 at its lowest point Monday night as the oldest and once-largest Bitcoin exchange went offline completely, showing a blank website and even deleting all messages from its Twitter feed” — Andy Greenberg. Read Bitcoin’s Price Plummets As Mt. Gox Goes Dark, With Massive Hack Rumored

“A Bitcoin giant has fallen. Mt. Gox was once the world’s largest Bitcoin exchange. It has overcome repeated troubles as if it retained a surplus of “life” renewal points from the Magic: The Gathering cards that it traded before Bitcoin, giving it its name. But after a crisis that started early this year, it appears to have no cards left to play” — Kashmir Hill. Read After Mt. Gox Implodes, Bitcoin CEOs and Lawmakers Scramble

In other news…

“Just 42 years old, billionaire Elon Musk has already worn many hats. He made his name in digital payments (PayPal) before turning to electric cars (Tesla Motors), space exploration (SpaceX) and even high speed tube travel (Hyperloop). Tuesday shares of his car company surged more than 18% after Morgan Stanley issued a report arguing ten-year-old Tesla Motors could follow in its CEO’s multi-faceted footsteps” — Samantha Sharf. Read Morgan Stanley’s Bull Case For Tesla Goes Past Hot Cars

“Gap Inc. stunned retail watchers and the general public alike last week by announcing a salary hike for employees across their five store chains. By 2015, the minimum hourly wage for all sales associates will be $10. The federal minimum wage, by comparison, remains $7.25″ — Clare O’Connor. Read Inside Gap’s New $10 Wage: Stores Must Pay More As Retail Jobs Get High Tech

“On his 37th birthday and after months of speculation, Floyd Mayweather announced that he will put his undefeated 45-0 record on the line in a fight against Marcos Maidana on May 3. It will be the third fight in the blockbuster six-fight deal he signed with Showtime in 2013 that is worth more than $200 million” — Kurt Badenhausen. Read Next Stop On Floyd Mayweather’s Money Tour Is Marcos Maidana

“It is almost time for Hollywood’s annual display of glitz and glamour: the Academy Awards. Yet, on March 2nd, one notable flaw cannot be shrouded by a superbly draped gown, covered with copious concealer, or hidden beneath a well-fitted tuxedo. Although it may not be obvious, no matter how closely you look, not a single woman will walk the red carpet to hear her name called as a Best Director nominee” — Stacy Smith, Katherine Pieper and Marc Choueitti. Read The Real Fiction In Hollywood: Women Can’t Make Movies

“Twitter is a superb avenue for the rapid spread of information. It may be an even better avenue for the spread of disinformation. Dealbook reports that @GSElevator, a Twitter account that had more than 600,000 followers and purported to consist of utterances overheard in the offices of Goldman Sachs, is not what it seems. Its author, anonymous until now, turns out to be a Texan named John Lefevre, who never worked at Goldman Sachs, although he was offered a job there once and spent seven years at Citigroup” — Jeff Bercovici. Read @GSElevator And The Seductive Ease Of Twitter Hoaxes

“This winter’s vicious snow and ice storms forced school systems and universities to cancel classes for days on end. Now, it’s time to make up the missed hours — and some places are doing so by cutting into spring break. That’s causing headaches for individual travelers and families as they make their plans for March and April, and they’re having to come up with strategies to get the most out of shortened holidays” — Micheline Maynard. Read Spring Break Gets Shrunk This Year — How Travelers Should Adjust

Leave a Reply

All Today's Crypto News In One Place