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If crypto became mainstream in 2017, how did Mt Gox even have 850k BTC to lose in 2014? Binance may be a new company, but US-based entities like Coinbase are

by rchaud 3y ago

If crypto became mainstream in 2017, how did Mt Gox even have 850k BTC to lose in 2014? Binance may be a new company, but US-based entities like Coinbase are not. They started in 2012, and they have to comply with US regs same as Binance.

rcme 3y ago
850K BTC was about $250 million in 2014. Today it’s worth 25 billion. That should give you an idea of the scale difference.
- rchaud 3y ago
  Now if we could only isolate how much of that appreciation comes from unbacked stablecoins, which didn't exist until after the Mt Gox collapse.