Mt.Gox shuts down, is insolvent

[BrianHarrison]

2 million income on 10.7 in sales...  ~ 20% profit in a business with literally no product cost.

Cost of goods at 100k, corporate taxes at 1.02 million and net income of 2 million...

Oh boy....  

Clearly they were in the business of selling vapor.

My thoughts exactly. A service like theirs should not be able to bring in that level of profit.

 

[peterw]

It's done. Mt. Gox has filed for bankruptcy protection at the Tokyo District Court.

http://online.wsj.com/news/articles/SB10001424052702303801304579410010379087576?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303801304579410010379087576.html