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 Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.”

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 EXCHANGE

Mark 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 Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term 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.