Bitcoin on a stack of coins with MtGox logo on a laptop screen. Source: 24K-Production - stock.adobe.com

Key Takeaways:

EllipX launch: New cryptocurrency exchange by former Mt. Gox CEO Mark Karpeles will debut in Europe this September, focusing on EU users first.
Regulation & transparency: Based in Poland, EllipX will follow EU’s MiCA regulations and prioritize regular audits.
Mt. Gox gesture: Former Mt. Gox users will receive a 50% discount on trading fees, aimed at rebuilding trust.

EllipX, a new cryptocurrency exchange founded by former Mt. Gox CEO Mark Karpeles, will launch in Europe this September, initially focusing on European users with plans to expand globally.

Based in Poland, EllipX will adhere to the EU’s Markets in Crypto-Assets Regulation (MiCA) and prioritize transparency through regular audits.

NEWS: Former Mt. Gox CEO Mark Karpeles to launch new crypto exchange, EllipX, in Europe this month, with a focus on transparency and user-friendliness. pic.twitter.com/FGbBarIXVq
— CoinGecko (@coingecko) September 4, 2024

Karpeles aims to offer a secure and trustworthy platform, leveraging advancements in digital asset security.

Former Mt. Gox users will receive a 50% discount on trading fees as a gesture of reparation.

Karpeles hopes this will help rebuild trust following Mt. Gox’s collapse in 2014, which caused significant losses and personal backlash.

Former Mt.Gox CEO on stage right now for the second time today at #KBW2024 #Seoul @michaelterpin @MagicalTux @kbwofficial Mark says he wants to “make right what went wrong” by launching a new European crypto exchange — EllipX exchange will be headquartered in Poland. #btc… pic.twitter.com/ZXxbCSx7Ne
— Tanzeel Akhtar (@Tanzeel_Akhtar) September 4, 2024

Despite past challenges, Karpeles has re-engaged with the crypto community.

Meanwhile, Mt. Gox has begun partial repayments to creditors in Bitcoin and Bitcoin Cash, with many opting to hold their assets rather than sell them.