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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’.
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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