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February 26, 2014 AT 8:57 AM
Bitcoin prices rose on Wednesday, recovering sharply from lows Tuesday, as authorities in the U.S. and Japan begin looking into the sudden closure of Tokyo-based exchange Mt. Gox. Meanwhile, Mt. Gox Chief Executive Mark Karpeles said in a brief notice posted on the exchange’s website that he is “working very hard with the support of different parties to find a solution to our recent issues,” but gave no specifics. After initially remaining silent on Tuesday’s shuttering of Mt. Gox, a move that shocked the virtual-currency market, Japanese officials said they were looking into the matter.