Mark Karpeles, the former CEO of the defunct cryptocurrency exchange Mt. Gox, will launch a new crypto exchange called EllipX in September. Based in Poland, the platform will initially serve European users with plans to expand globally. It will start as crypto-only but potentially add banking and fiat currency services later.

EllipX aims to comply with the European Union's Markets in Crypto-Assets Regulation (MiCA) and promote transparency through regular third-party audits. Karpeles explained that the security and technology around Bitcoin (BTC) now "allows safe storage of cryptocurrencies." On regaining trust and offering reparations to those affected by the Mt. Gox hack, Karpeles informed that the new exchange would offer former Mt. Gox users "at least 50%" off trading fees on EllipX.

The launch of EllipX comes as the Mt. Gox rehabilitation process continues, with the possibility of $15 billion worth of Bitcoin being introduced to the market. Karpeles' new venture aims to capitalize on the crypto market's growth and the need for regulated exchanges that can restore trust in the industry.

Source: https://cointelegraph.com/news/former-mt-gox-ceo-ellipx-crypto-exchange-europe

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