AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Mark Karpeles, former CEO of the now-defunct Mt. Gox cryptocurrency exchange, is set to launch a new crypto exchange named EllipX in September. Based in Poland, EllipX will initially cater to European users with plans to expand its services globally. The platform will begin as a crypto-only exchange but may later integrate banking and fiat currency services.
EllipX is committed to adhering to the European Union’s Markets in Crypto-Assets Regulation (MiCA), which aims to provide a framework for the regulation of crypto-assets within the EU. The platform will also emphasize transparency by undergoing regular third-party audits to ensure compliance and build trust with users.
In an interview at Korea Blockchain Week, Karpeles discussed the advancements in security and technology surrounding {Bitcoin} (BTC), which now allows for safer storage of cryptocurrencies. He also addressed the issue of reparations for those affected by the Mt. Gox hack. To address the impact of Mt. Gox’s collapse on its users, EllipX will offer substantial trading fee discounts to former Mt. Gox users. This discount is associated with non-fungible tokens (NFTs) Karpeles issued previously, which were intended for Mt. Gox users; however, only a small fraction of the affected users have claimed these NFTs.
Karpeles aims to reconnect with the Mt. Gox community through this gesture, hoping to restore trust and make amends for the losses incurred during the collapse of the previous exchange. Despite receiving threats in the wake of the Mt. Gox hack, Karpeles has noted a gradual improvement in his reception within the crypto community.
In related developments, Mt. Gox has begun the process of repaying its creditors as of July 5. The repayments, made in Bitcoin and Bitcoin Cash, have not led to significant sell-offs of the reimbursed assets, with creditors retaining their holdings after a lengthy wait. This ongoing process reflects the enduring confidence of Mt. Gox creditors in the long-term value of their recovered assets.
