Former Mt. Gox CEO provides some clarity on his new business

06 Jun, 2019
by Richard Allen
News
Former Mt. Gox CEO provides some clarity on his new business

Former Mt Gox CEO, Mark Karpeles recently announced the launch of his “new Bitcoin tech business,” which featured in mainstream media. However, Karpeles is now viewed as something of a villain in the crypto community, and, as such, Karpeles feels as if he’s been unfairly represented. Karpeles told The Block that there are a few facts that need to be straightened out.

It was reported by AP News that Karpeles was starting “a Bitcoin company… around the same computer technology that led to his legal troubles.” Karpeles states he’s steering clear of crypto-related businesses. He hasn’t ruled out venturing back into blockchain one day, however.

He clarified that his new venture, Tristan Technologies, isn’t a blockchain-based company:

“We’re working on new cloud solutions but with absolutely nothing on blockchain right now…This is [just] a technology company,” he told The Block. “I don’t think it would make sense at this point to work in the blockchain and crypto industry.”

Furthermore, he notes another thing AP got wrong is that his business isn’t “new,” explaining its actually been around for almost three years. Following his release from prison, Karpeles stated it was difficult to find work, so he quietly set up his own company.

“It’s not new, we’ve just been underground. We didn’t want to be too vocal until after the judgment.”

One potential explanation for the mixup is that Karpeles was also promoting his book that details his downfall. He gave a speech which explored the cryptocurrency industry before discussing his business.

“I talked about what remains to be solved for crypto and blockchain – like adoption and having it as a payment method.”

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