If there is anyone who believes in the potential of cryptocurrencies and blockchain technologies it is Mark Karpeles. After being in the forefront of the biggest scandal in the history of the ecosystem, the former CEO of Mt.Gox has decided to start a new adventure as CTO of Tristan Technologies Co, a new Tokyo-based startup focused on the development of blockchain technologies.
Karpeles was arrested in 2015 after Mt.Gox suffered a hack that wiped out about 850,000 BTC from its funds. At the time, the exchange was the most important in the world, concentrating more than 70% of all circulating BTC.
After 11 months in detention, Karpeles was cleared of embezzlement and fraud allegations. No conclusive verdict has yet been reached on the electronic data manipulation charges. Karpeles has claimed to be innocent of all charges.
Karpeles is Starting Over
Little is known about Karpeles’ plans for this new company. For now, the only thing he has told the local press is that Japan is a strategic country for the development of this company, which would aim to develop a new operating system oriented ecosystem blockchain:
“Japan used to be engineering superpower in terms of its PCs but right now, taking the cloud for example, it’s the U.S. that dominates. But I still believe in the potential Japan has and I would like to develop that,”
The CEO of Mt.Gox hopes to start over “from zero”. When asked by the media if he had any kind of crypto investments, karpeles said no, claiming that its volatility implied “high risks”.
He also explained that despite his influence on the ecosystem during the early years of Bitcoin, he is not now the figure he used to be. “I wouldn’t say I’m rich today,” he said, explaining that the Mt.Gox scandal also caused him heavy losses.
Life seems to give Karpeles a second chance. While waiting for a decision on the last of his list of charges, his new company begins to consolidate -iall this in the coutry where he was processed.
In the meantime, the founder and coordinator of Mt.Gox Legal, Andy Pang announced his intentions to sell his claim at 15%, explaining that he considers it unlikely that creditors will get a refund in 2019.