Mark Karpeles is going to reborn MtGox

According to the founder of well known cryptocurrency exchange, he needs $245M in order to start exchange again
20 November 2017   1149

Scandalously known founder of the once largest cryptocurrency trading platform Mt Gox Mark Karpeles intends to revive the exchange. To do this, he said, the amount of $ 245 million is required. Karpeles wrote this in his blog.

Among the possible ways of raising funds, the founder of the infamous Japanese exchange calls recapitalization, issuing shares. Later, the ICO was listed as one of the ways to reborn the exchange. Now this text is crossed out.

Launch an ICO to raise money to hypothetically revive MtGox. This sounds more challenging, both legally and because there is no guarantee of raising enough to revive MtGox. In case there is not enough raised it could still be locked to be distributed to creditors, which would be better than nothing. Updated on Nov 20th: after discussing with lawyers it has been confirmed this option is not practical (mostly due to compliance issues). 
Should anyone have 245 million USD sitting around and want to purchase MtGox, just drop me an email.
 

Mark Karpeles

MtGox founder

In addition, Mark Carpeles concluded that it is unlikely that future investors will be those who lost a solid amount of money in 2014 due to the bankruptcy of the exchange.

The MtGox exchange was based in Tokyo and at a certain stage was the largest trading platform in the bitcoin ecosystem (about 70% of all transactions with bitcoin passed through the exchange).

In early 2014, MtGox, on the background of charges in a dirty game, stopped working. Mark himself later claimed that the platform had undergone a hacker attack, but a study of the Japanese company WizSec, published in April 2015, showed that MtGox started withdrawing funds in 2011, and by 2013 there were practically no funds on the stock exchange accounts.

The losses of MtGox investors are estimated at 850,000 BTC. At that time, this amount was about $ 480 000 000, but at the current rate is about $ 6 500 000 000 .

Bakkt to Unveil Bitcoin Futures Test Date

Along with date announcement, COO Bakkt believes the platform will attract institutional investors and set new standards for the cryptocurrency market
14 June 2019   236

The Bakkt cryptocurrency platform has named the exact start date for testing Bitcoin futures. The first users will be allowed to test the tool on July 22.

According to Bakkt's Operations Director, Adam White, the platform will attract institutional investors and set new standards for the cryptocurrency market.

White pointed out that the wider distribution of cryptocurrencies, in particular, is hampered by unreliable pricing mechanisms and the likelihood of instantly falling rates.

Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.
 

Adam White

COO, Bakkt

At Bakkt, two futures contracts will be presented - with daily and monthly settlements. Risk management and the securing mechanism for these contracts will meet the standards of the traditional derivatives market.