Mark Karpeles, who used to be CEO of the now-defunct Mt. Gox exchange, is getting ready to start EllipX, a new cryptocurrency site, in September. The Polish company EllipX will first serve users in Europe, but they have plans to grow to serve users all over the world in the future. At first, the exchange will only let people trade cryptocurrencies. Later, it may add banking and regular currency services.
EllipX follows the Markets in Crypto-Assets Regulation (MiCA) of the European Union to make sure that everything is clear and safe. To keep these standards, the site will be audited by a third party on a frequent basis. Karpeles stressed at Korea Blockchain Week that improvements in Bitcoin security now make it possible to store digital assets safely. He thinks that many trades still don’t prioritize openness, so he hopes that EllipX will show the way.
Karpeles said that EllipX will give former Mt. Gox users who lost money when the exchange went down a 50% discount on trade fees. This is to win back the trust of these users. Karpeles gave affected users non-fungible tokens (NFTs) in the past, but so far only a few have claimed them.
Karpeles said he thinks this will help bring the Mt. Gox community back together. He said that he had received death threats after what happened at Mt. Gox, but that the crypto community’s view of him has changed in recent years.
