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Former Mt. Gox CEO Is No Longer a Bitcoin Believer?!

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Theformer CEO of Mt. Gox, said he no longer is a Bitcoin believer.
“The technology is definitely here to stay, but Bitcoin may havetrouble evolving and keeping up,” Mark Karpeles said Wednesday,“I could bewrong about this. I’ve been wrong about a lot of things.”
Karpeles, originally from France, said he doesn’t own any Bitcoin.He also called Bitcoin’s main cryptocurrency rival, Ethereum, “too untested”for any kind of serious use.
Once the world’s largest Bitcoin exchange based in Japan, Mt.Gox filed for bankruptcy in 2014 after thousands of Bitcoins belonging to customerswere found to be missing. Karpeles, who had been running the exchange since2011, was arrested by Japanese police in 2015, and spent time in jail. There,he said in the chat, he lost 77 pounds in four months as “lunch was actuallytwo breads with jam.” He is divorced, he said, but “my cat hasn’t left me.” Hesaid he participated in the chat on advice of friends.
Karpeles decided to speak after it was revealed, in March, thatthe Japanese trustee handling the Mt. Gox bankruptcy had already sold some ofthe company’s remaining Bitcoins to reimburse creditors. Because ofpeculiarities of Japanese law, Karpeles said that as a shareholder he could endup with more than $1 billion after the bankruptcy proceedings are over. In thechat, Karpeles said he hopes to return all that money to the exchange’s more than24,000 creditors.

Karpeles also remains on trial in Tokyo, accused of stealingmoney for personal use and making false deposits into the firm’s account. Hehas pleaded not guilty.Karpeles said he hopes to work again as an engineer --but not necessarily for a cryptocurrency startup. Oh, and if a movie is evermade about the rise and fall of Mt. Gox, he said he’d prefer to be played bythe actor Jack Black. “I really love the guy.”


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