Former CEO Karpeles suggests reviving MtGox post-bankruptcy?
In a surprising turn of events the former CEO of MtGox, Mark Karpeles has suggested that he may consider a revival of the exchange that resulted in the single largest Bitcoin loss in cryptocurrency history, and which is currently in bankruptcy. On his personal blog Karpeles soft-pitched the idea of a MtGox ICO to restart the exchange.
The post ironically includes a number of personal comments, including Karpeles mentioning that he doesn’t want to be the enemy of the world after his exchange lost the equivalent of $7 bln at today’s price and declared bankruptcy. He mentions that a few encouraging comments ‘keep him going’.
A revival possible?
For the company to be revived, Karpeles suggests some important things that would need to happen. For starters, he says that creditors would need to ‘cooperate more,’ a comment that may not sit well with those who have had substantial losses from past mismanagement.
Further, Karpeles calls for a potential ICO to raise the funds needed for such an undertaking. Of course, since ICOs are largely built on trust the prospects may be a bit slim. Finally, he offers the company for sale at $245 mln. Creditors have not publicly replied as yet, though much may be said.
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Author: Jon Buck