Mt. Gox Exchange Could Go Live Again as Early as in Q2 2019

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Wed, 02/13/2019 - 17:45
Alex Dovbnya
Not everyone liked the idea after the initial announcement, but Brock Pierce is not backing down
Mt. Gox Exchange Could Go Live Again as Early as in Q2 2019
Cover image via U.Today
Contents

American venture capitalist Brock Pierce earlier made an announcement about a potential relaunch of the infamous cryptocurrency exchange Mt. Gox, which stirred controversy in the crypto community. However, in a recent interview with Forbes, Pierce doubles down on his plan to bring back the Japanese monster, and it could happen in Q2 2019.

Brock Pierce

Mark Karpeles breeds confusion

Pierce, who acquired the exchange back in March 2014, is supposed to be the only shareholder. Mt. Gox CEO Mark Karpeles reportedly sold the exchange for only 1 BTC, according to the letter of intent, but Karpeles still denies that the deal happened in the first place. In his latest interview, Karpeles claimed that the rights to the exchange belong to him given that the letter was withdrawn.

Not deterred by the criticism

However, Pierce is claiming that the relaunch could potentially occur ‘within 90 to 120 days’ if the stars align. On top of that, the crypto influencer states that ‘certain things need to happen’ for their plan to come to fruition.     

Related Mt. Gox Trustee Liquidates Mammoth-Size Amount of Bitcoin
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Mt. Gox Trustee Liquidates Mammoth-Size Amount of Bitcoin

Creditors are still fighting for their money  

Mt. Gox, which at one point was the biggest exchange in the world, was famously hacked in 2014. Currently, the now-defunct exchange owes its creditors a whopping $1.2 bln. Pierce insists that creditors will get all their money under the Civil Rehabilitation Plan.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.