Daily Archives: April 26, 2014

Cryptocurrency markets drop slightly but remain relatively stable, while plans for bitcoin satellites are made.

Bitcoin has continued to gradually drop in value, following a trend that began at the beginning of this week. A fall of just over 1% over the last 24 hours has been mirrored by most other major digital currencies.

Only dogecoin has seen its value rise, rebounding slightly by 2% from a recent steady decline that has seen its market capitalisation fall by 20% over the last seven days.

Last-gasp effort to save MtGox

A group of investors led by Jon Holmquist, the founder of Bitcoin Black Friday, is making one final attempt to prevent the planned liquidation of Tokyo-based bitcoin exchange MtGox.

The exchange filed for liquidationearlier this month after plans to rebuild under bankruptcy protection fell through.

Sunlot Holdings, the firm representing the investor group, claims that it is possible to revive the exchange. A decision by court-appointed administrators will be made by 9 May.

Holmquist has said that the bid is being made primarily to restore customer confidence.

"This isn't about Gox," Holmquist said."This is about helping the community get their coins back while also kickstarting a new exchange. We're hoping to make the customers whole. And as part of that, reinstill confidence in the Bitcoin ecosystem."

Bitcoin Satellites

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Cryptocurrency News Round-Up: Bitcoin in Space & MtGox 2.0