Mark Karpeles Clarifies Crypto Confusion, Says To Discard Rumors, No Return To Blockchain Plans


Mark Karpeles: Discard Rumors, I’m Not Returning to Blockchain

Mark Karpeles, the Chief Executive Officer of the now-defunct Japanese cryptocurrency exchange Mt. Gox on June 7 denied rumors flying around on social media that he is returning to the blockchain industry.

Mark, a crypto enthusiast was recently acquainted in March by a judge. He was freed of all charges involving any form of embezzlement, but he’s currently fighting another accusation involving data manipulation.

Bye Blockchain

Karpeles further revealed that his work with Tristan Technologies will not have anything to do with cryptocurrency in any way whatsoever.

News of his return started when local news outlets in Japan misinterpreted his remarks at a conference, as a sign of him coming back to the world of blockchain.

He stated at the press conference that he wanted to make Japan the leader in the technology world, he cleared his earlier stance, stating that:

” I think I’ve been quite clear during the press conference, and I’m not sure how this got reported wrong, and I’ve been asked if I would consider returning to the crypto space, to which I replied, I had no plan for now.”

The Tristan Connection

Karpeles revealed further that the ambition to take Japan to the top in the technology world is still intact and the plan is currently in motion. He also clarified his relationship with Tristan technologies, confirming that the firm is not new and it’s not a blockchain related company.

He further maintained that:

“Tristan technology is not really a new company, it has been in existence for a while now and now it’s now self-reliant. Our focus is basically on IT Solutions, mostly cloud-based, and offer services such as Google drive, drop replacement, among other IT-based services.”

His defunct cryptocurrency exchange Mt.Gox is still in the process of returning funds to those who invested in the platform, with many labeling the process as fraudulent and unaccountable, prompting legal battles which has been going back and forth for a while now.

Bankruptcy is not the end for most defunct crypto exchanges, as some still face scrutiny from law enforcement agencies, despite their condition. Bitcoin Exchange Guide reported in June that QuadrigaCX was still being investigated by the FBI despite going bankrupt.

The company folded up after the death of its founder and CEO Gerald Cotten, the firm ultimately shut down any form of transaction, leaving the users clueless as to how they can access their funds.

After a long legal battle, the court realized that the available cryptocurrency is less than what is being owed, prompting an investigation by the FBI.

Cryptocurrency has been under the microscope for a while now. Stakeholders in and around Wall Street and some notable financial institutions have stayed clear of the digital currency, with most of them citing the incessant fraudulent activities in the crypto world as a major deciding factor.

Although, the major players in the industry are putting their house in order, it is still not looking good for the industry at the moment.

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