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Former Mt. Gox Founder Wants to Make Japan Global Blockchain Leader with His New Business Effort

Wed, 06/05/2019 - 13:00
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Yuri Molchan
Ex-head of Mt.Gox is about to start another crypto business in Japan, similar to the one that gave Bitcoin investors so much trouble in the past
Former Mt. Gox Founder Wants to Make Japan Global Blockchain Leader with His New Business Effort
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Many talented entrepreneurs show an admirable ability to set up business over and over again, even if their previous efforts go down the drain, losing them all their money.

However, if a former Mt. Gox founder, Mark Karpeles, intends to repeat a business model that made his investors lose all their BTC, one should watch out to avoid making the same mistake.

Get Japan to become a global blockchain leader? That’s easy

On Wednesday, Mark Karpeles, the former founder and CEO of the ill-famous Mt. Gox Bitcoin exchange shared with Mainichi that he intends to start over and turn Japan into the world’s leader in the blockchain industry.

He has registered a new company in Japan, claiming that his love for the country of the rising sun remains. Karpeles calls Japan an engineering super power.

The entrepreneur states that Japan has lost its technological lead to US giants, such as Facebook, Amazon and Apple and hopes to change the state of the things here.

Bitcoin Price Floats around $7,900 as Crypto Market Nosedives into the ‘Red Sea’

Switching from crypto to blockchain

Mark Karpeles is a computer ‘wizard’ interested in gaming and animation. Due to receiving a suspended sentence he is not doing any prison time and says that he is disappointed in crypto from now on. Too risky, he says.

However, he still believes in the power of blockchain, similarly to Warren Buffett, who Justin Sun has recently won a charity fast food dinner with, having paid over $4,5 mln.

But Karpeles, apparently, would not be able to afford this burger and Coke dinner.

I wouldn't say I'm rich today."

Apparently, the former Mt.Gox exchange founder wants to switch to cloud solutions, smart contracts and digital payments.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at