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Mt. Gox ex-CEO back in the crypto-world as a CTO




Mt. Got, ex-CEO is now CTO somewhere else
Source: WikiMedia

Mark Karpeles, the ex-CEO of the famous cryptocurrency exchange platform Mt. Gox has announced that he secured a new job at a company which is involved in cryptocurrency and he also says Bitcoin is doomed.

Based on reports, the Mt. Gox CEO who is charged with embezzlement, breach of trust and manipulation of electronic data is working with London Trust Media since the beginning of this year. In addition, Mark claims that he’s been working for various other companies on projects which were not related to cryptocurrency.

Mark Kapeles is currently the CTO of London Trust Media, world’s leading VPN service provider. The company has been involved with the cryptocurrency world for quite some time now. They were one of the initial investors of a privacy-focused digital coin, Zcash and has backed a startup that allows people to make payments through Bitcoin on Amazon named Purse.

The co-founder of the London Trust Media says he’s more than happy to have Mark working for the company. He adds that according to him bringing in a seasoned warrior makes perfect sense.

Andrew Lee, the Co-Founder, Chairman and the Lab Division Chief says:

“Mark fought as hell. And although he fell, his skills, experience and know-how unarguably continues to exist.”

Andrew Lee and Mark Karpeles have been acquainted before as Andrew had sold one of the companies to Mt. Gox and was heading Mt. Gox’s North American operation.

He further adds:

“I wouldn’t dare say that the person who architected the Titanic should never again architect again.”

During the interview, Mark spoke about Bitcoin and adds that he’s had enough of cryptocurrency. Mark adds that Bitcoin is doomed and the original purpose of Bitcoin is lost.

He says:

“The main issue with Bitcoin is that at present the community around it is kind of too polarised.”

Carl Tomlinson, a cryptocurrency trader says:

“Everyone deserves a second chance. If it was for the Bitcoin heist, Mt. Gox would’ve still been the leading Bitcoin exchange platform. The price did see a huge hike when he took over the company. I sure do hope that he does a brilliant job here.”

This news has come into the limelight right after Mark Karpeles had an AMA on Reddit where he was seen making some shocking revelations related to Mt. Gox, the biggest cryptocurrency exchange in the world before it declared bankruptcy due to a Bitcoin heist worth $475 million.

Before the heist, Mt Gox was responsible for 70% Bitcoin [BTC] transactions in the world. During the AMA, Mark claimed that each shareholder will be walking away with approx. $1 billion due to the Japanese Bankruptcy Law. He said that he had no interest in the money and wanted to give back people the money they were supposed to receive.

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Andrea Pierre Jackson is a contributing News writer at AMBCrypto from December 2017. She has previous writing experience with major publishing houses in the UK and the US. Andrea currently does not hold any position in any cryptocurrency or its projects


Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.


2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.


3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.


4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.


5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.


6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.


7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.


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