Mark Karpeles to Serve as CTO of New Blockchain Venture in Japan

The former CEO of the now-defunct bitcoin [BTC] exchange Mt. Gox, Mark Karpeles has confirmed that he will serve as the chief technology officer of a newly registered blockchain firm in Japan. This news was reported by the Japanese daily newspaper The Mainchi on the 5th of June ‘19.

While speaking at the Foreign Correspondents’ Club of Japan, Karpeles confirmed his intentions of making Japan a global leader in the blockchain sector by undertaking his new role at the Tokyo-based company, Tristan Technologies Co. The firm, Tristan Technologies plans to build a new and secured blockchain operating system which would be quite faster than other systems which are currently in use. Karpeles said, “My love for Japan has not changed. Japan used to be engineering superpower in terms of its PCs but right now, taking the cloud for example, it’s the U.S. that dominates. But I still believe in the potential Japan has and I would like to develop that.” The Japanese Daily, The Mainchi wrote, “Karpeles — whom the paper characterizes as a computer prodigy with a penchant for manga and gaming — moved to Japan in 2009, acquiring the Mt. Gox bitcoin exchange site in 2011.

After the Mt. Gox hack and its collapse in the year 2014, Karpeles was arrested in 2015. This incident led to the loss of nearly 850,000 BTC, which was valued at $460 million USD at that time. According to The Mainchi’s report, “Karpeles has pitched his new venture with Tristan as starting from zero, and has affirmed his belief in blockchain’s potential to innovate cashless payments, cloud solutions and establish the new field of smart contracts. However, when asked whether he himself held any cryptocurrencies, he reportedly said no, claiming they carry high risks.” As it was reported in December last year, Karpeles pleaded not guilty to the prosecutors’ charges of allegedly robbing nearly 340 million yen [around $3 million USD] from Mt. Gox and manipulating the ledgers of the exchange platform to maintain the cash balance.

In March this year, the former CEO was acquitted of charges of embezzlement and was found guilty of tampering with financial records. He was charged with having combined his personal finances with those of the exchange in order to hide the losses of the platform to the hackers. According to reports, the erstwhile CEO is now appealing his conviction.

Leave a Reply

Your email address will not be published. Required fields are marked *

Single Column Posts

Single Column Posts Subtitle