Former Mt. Gox CEO to Launch New Crypto Exchange in September
Mark Karpeles, the ex-CEO of the now-defunct Mt. Gox, is preparing to launch a new cryptocurrency exchange named EllipX this September.
The platform, which will be based in Poland, is set to initially cater to European users but has plans to expand globally. Initially focusing solely on cryptocurrencies, EllipX may eventually incorporate banking and fiat currency services.
EllipX aims to adhere to the European Union’s Markets in Crypto-Assets Regulation (MiCA) and will prioritize transparency through regular third-party audits.
In a recent discussion at Korea Blockchain Week, Karpeles emphasized the improvements in cryptocurrency security and technology, suggesting that exchanges have lagged behind in innovation. He believes EllipX will set a new standard for transparency in the industry.
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As part of his efforts to rebuild trust, Karpeles announced that former Mt. Gox users will receive at least a 50% discount on trading fees at EllipX. This discount is tied to non-fungible tokens issued to Mt. Gox users previously, though only a small fraction have claimed them.
Karpeles has expressed a desire to make amends for the Mt. Gox collapse, which he says has softened the crypto community’s perception of him over time. Despite receiving death threats following the hack, he has been invited to speak at conferences, reflecting a more positive reception.
In related news, Mt. Gox began repaying creditors on July 5, distributing funds in Bitcoin and Bitcoin Cash. Despite concerns of a large sell-off, creditors have largely retained their assets after a long wait.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
