The failed bitcoin exchange Mt. Gox has given up on its plan to rise from the ashes under bankruptcy protection. Instead, it’s asked a Tokyo court for permission to be liquidated “People familiar with the situation” told the newspaper that the sheer complexity of the operation to rebuild itself is what’s stymied the original ambitions. In particular, the sources cite the difficulty of holding meetings with creditors scattered across the world—oh, as well as “the lack of realistic rehabilitation plans.”
