Former CEO at Mt Gox casts doubts on Brock plan for Mt Gox rebirth

Posted 12 February, 2019

The head of the dead and well-known crypto trading platform Mt Gox that owes huge sums to its clients Mark Karpeles commented on the recent message of Pierce Brock regarding his intentions to restart the exchange.

According to the media, the former CEO at Mt Gox said that Brock Pierce sent a letter of intent to acquire the exchange back in 2014. However, he added that the LOI suggested that Karpeles might get a green light from the court and the final agreement should be closed within 45 days. As a result, this letter means nothing for now. The ex-CEO also noted that it is possible that Brock is not acknowledged well with the stakeholders' rights.

It should be also mentioned that Mark Karpeles faces charges of manipulation and his connection to the closure of the platform in Japan. The Japanese court is expected to make a decision on the case in mid-March.

Meanwhile, another party Brock Pierce names Karpeles as the person that wanted to crumb the potential contract.

Besides, Karpeles also noted that the civil rehabilitation process does not entail any dividends for stakeholders, as it would be in case of the bankruptcy. It is possible that Brock does not consider this fact, he pointed out.

In this situation, Brock Pierce probably looks out on the exchange as a way for ICO under Mt Gox brand.

The former CEO doubt that the market will express any interest in the Mt Gox brand even if the exchange rebirth takes place. Moreover, the platform will have to pass the registration process and licensing will take up to a year.

It was reported earlier that Brock Pierce shared his plans regarding possible relaunch of the Mt Gox platform.

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12 February, 2019 12:07

← Reality Shares targets partial bitcoin-ETF

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Reality Shares targets partial bitcoin-ETF

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