Mark Karpeles, the former CEO of the cryptocurrency exchange Mt. Gox, has announced the launch of his new crypto platform EllipX. The exchange will be based in Poland and initially serve European users.
EllipX Launch
The new cryptocurrency exchange EllipX, based in Poland, will start operations this month. Initially, it will serve European users but plans to expand globally. The platform will operate with cryptocurrencies with the potential addition of banking and fiat currency services in the future. EllipX aims to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations and promote transparency through regular third-party audits.
Community Reaction and Compensations
Mark Karpeles stated that he intends to offer former Mt. Gox users up to 50% off trading fees on the new platform. The discount is related to NFTs that Karpeles released a few years ago for Mt. Gox users, although only a few hundred out of a million affected users have claimed them so far.
Mt. Gox Repayments
On July 5, Mt. Gox began making repayments following its rehabilitation plan. These repayments involved BTC and Bitcoin Cash, and the Mt. Gox Trustee’s total BTC balance was 94,457 BTC at that time. Despite expectations of a significant sell-off of reimbursed assets, Mt. Gox creditors chose to retain their holdings after a decade-long wait.
Mark Karpeles hopes that the launch of the new EllipX exchange will be a crucial step toward regaining the trust lost due to the Mt. Gox collapse. The cryptocurrency community's response has been positive thus far, opening new opportunities for the platform's further development.
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