JorgeStolfi
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February 14, 2014, 06:50:25 PM

I thought the fiat was always there , wasn't it , no way to get it out?
Besides , there were lots of people selling from 800+ tp 350 , so the fiat is there.

That is money and bitcoins in the internal client accounts.   MtGox may have enough in their corporate bank accounts and wallets to make good on the client accounts.  Or may not have. Or may even owe money to their bank.  There is no way to tell.

However, MtGOX is definitely behaving in all respects as if it were insolvent.  Perhaps their CEO is just aiming for an Emmy award.

Banks and publicly traded corporations are required to publish audited and detailed balances every quarter.  Crypto exchanges will not even provide unaudited statements of how much they owe to their clients.  How can anyone trust those outfits?