Former Mt. Gox CEO Launches New Cryptocurrency Exchange, Prioritizing Transparency and User-Friendliness

• Former Mt. Gox CEO Mark Karpeles to launch new crypto exchange called EllipX in Europe.
• EllipX aims to promote transparency and comply with EU regulations.
• Karpeles plans to offer fee discounts to former Mt. Gox users as reparations.
• EllipX will focus on user-friendliness and transparency, compartmentalizing different working bodies of the platform.
• Karpeles also plans to launch Ungox, a non-profit organization offering a rating system on crypto projects and exchanges.
• Mt. Gox began repaying creditors in July, retaining their holdings after a decade-long wait.

Summary :
Former Mt. Gox CEO Mark Karpeles is set to launch a new cryptocurrency exchange called EllipX this month. The platform, based in Poland, will initially serve European users and aims to comply with EU regulations. EllipX will prioritize transparency and user-friendliness, with plans to offer banking and fiat currency services in the future. Karpeles hopes to regain trust from those affected by the Mt. Gox hack by offering discounted trading fees on EllipX. The exchange will also focus on transparency by compartmentalizing different working bodies and sharing technical data with customers. Karpeles plans to lead by example and promote transparency across the industry. Additionally, he is preparing to launch Ungox, a non-profit organization that will provide ratings on crypto projects and exchanges. Mt. Gox, which operated the largest bitcoin exchange until a security breach in 2014, has started repaying funds to creditors this year. Karpeles expressed satisfaction with the growth of blockchain technology and improved security measures since Mt. Gox's bankruptcy.

Sources :

- CoinTelegraph
- TheBlock