Mt.Gox Founder to Doubt Company's Relaunch

Mark Karpelese believes to conclude a deal of this kind, a court decision is needed
12 February 2019   921

Mark Karpeles, the former CEO of the Mt.Gox bankrupt bitcoin, questioned the millionaire Brock Pierce’s plans to restart the trading platform and said that the latter probably has incomplete information about the rights of shareholders. This was reported by The Block.

Karpeles that he had received only a letter of Pierce’s intention to acquire Mt.Gox, but the terms of the document were not fulfilled by the parties. According to him, to conclude a deal of this kind, he needed a court decision. In addition, the final agreement was to be signed within 45 days. The letter “doesn’t have any value right now,” said Karpeles.

In turn, Brock Pierce argues that it was the then head of the exchange who tried to disrupt the deal.

It is noteworthy that the transfer of Jed McCaleb’s share (12%) for 1 BTC is probably also invalid, or has never taken place, since this required the approval of all shareholders.

Brock probably believes that the shareholders will receive the entire surplus, which was indeed the case when in bankruptcy but it’s not the case anymore with Civil Rehabilitation. In the case he somehow managed to launch a new exchange called Mt. Gox, which would take anywhere from six months to a year to get the necessary licenses, I don’t see any people using the exchange. No one wants to see something called Mt. Gox anymore.
 

Mark Karpeles

Founder, Mt. Gox

Earlier, Brock Pierce reported on plans for a "rebirth" of Mt.Gox exchange. 

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   233

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.