- Korea Blockchain Week 2024: EllipX Announcement
- Homage to Mt. Gox and User Discounts
- Karpelès’ Return and Mt. Gox Repayments Finalization
At the Korea Blockchain Week 2024, Mark Karpelès, former CEO of Mt. Gox, announced a new cryptocurrency exchange called EllipX, which will be based in Poland and comply with the European Union's Markets in Crypto-Assets Regulation.
Korea Blockchain Week 2024: EllipX Announcement
Mark Karpelès spoke at the Korea Blockchain Week 2024 and revealed that the new crypto exchange EllipX will be based in Poland. He also emphasized that EllipX will comply with the European Union's new regulatory framework known as the Markets in Crypto-Assets Regulation.
Homage to Mt. Gox and User Discounts
According to Karpelès, EllipX has plans for expansion beyond Europe and offers Mt. Gox users a 50% discount on trading fees. This initiative aims to attract former platform users and establish trust. Karpelès also stated his intention to use new tools that were unavailable back in 2011 and 2014 when Mt. Gox was hacked. A primary focus will be on platform transparency.
Karpelès’ Return and Mt. Gox Repayments Finalization
The announcement of EllipX's launch coincided with the final repayments to Mt. Gox creditors, as the bankrupt exchange owed around $9 billion in cryptocurrency to affected users. So far, the exchange has disbursed over $6 billion and holds about $3 billion in digital assets earmarked for completing reimbursements. Mt. Gox's struggle with the aftermath of its hack spanned over a decade. Ultimately, users are getting their funds back, and Karpelès is returning to the cryptocurrency scene.
Mark Karpelès' announcement of EllipX signifies a new phase in his career and an attempt to rectify past mistakes using modern security technologies and methods.
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