Lead advocate for Mt. Gox creditors quits, says payouts could take years

posted 15 days ago
The head of the largest organized creditor group representing the former users of failed Bitcoin exchange Mt. Gox is stepping down amid a protracted legal quagmire that could take years to resolve completely. Andy Pag, the founder and coordinator of Mt. Gox Legal said he now believes a single massive claim by startup incubator and former Mt. Gox partner Coinlab – may hold up the crypto exchange’s civil rehabilitation process for up to 2 more years.

Rather than wait for the court system, Pag intends to sell his claim for $600 per BTC, step down from Mt. Gox Legal and move on with his life. “I’ve put my career on hold for 18 months and… It’s just a big regret that we’ve kind of been outplayed by other parties… This is a really personal decision that everyone needs to make for themselves… Do I want to be right, or do I want to be happy? I’ve decided I’d rather be happy and get on with my life.”
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