Former Mt. Gox CEO Rolls Out New Crypto Alternate EllipX in Poland

Mark Karpeles, the former CEO of Mt. Gox, is set to launch a
new cryptocurrency exchange called EllipX this month. Based in Poland, the
platform will initially serve European users, with plans for global expansion.
The exchange will focus on cryptocurrency trading at launch, with the
possibility of adding banking and fiat currency services in the future.

Targeting MiCA Compliance

EllipX will aim to comply with the EU’s Markets in
Crypto-Assets (MiCA) regulations. Karpeles has emphasized the importance of
transparency, promising regular third-party audits of the platform.

In an interview with Cointelegraph at Korea Blockchain Week,
Karpeles discussed the improvements in security and technology around Bitcoin,
which he believes now “allows safe storage of cryptocurrencies.”

He
pointed out that many exchanges have not changed significantly over time.
Karpeles said his goal is to set an example by building a platform that
prioritizes transparency.

MT. GOX FOUNDER TO LAUNCH NEW EXCHANGEMark Karpeles, the former CEO of Mt. Gox, is back with a new crypto exchange, EllipX, launching later this month in Europe.Karpeles is emphasizing transparency and user-friendliness, hoping to set a new standard in the industry after his… pic.twitter.com/NyKqjtLRMY

— IBC Group Official (@ibcgroupio) September 4, 2024

Reconnecting with Mt. Gox Users

Regarding the Mt. Gox collapse, Karpeles announced that
former users of the defunct exchange would be offered a discount of at least
50% on trading fees at EllipX. This discount is connected to non-fungible
tokens (NFTs) he released for Mt. Gox users a few years ago. However, only a
small number of the million affected users have claimed these NFTs.

Karpeles hopes that this gesture will help him reconnect
with those who lost assets during the collapse of Mt. Gox. He mentioned
receiving death threats after the incident but noted that the attitude toward
him within the crypto community has softened in recent years.

This article was written by Tareq Sikder at www.financemagnates.com.



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