First Mover Asia: Mark Karpeles’ UnGox Wants to Help Investors Assess the Risks of Crypto Products; Bitcoin Drops Below $40K

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First Mover Asia: Mark Karpeles’ UnGox Wants to Help Investors Assess the Risks of Crypto Products; Bitcoin Drops Below $40K
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Karpeles is an unlikely figure to establish a ratings service, which he is calling UnGox; bitcoin, ether and other major cryptos plummet. thesamreynods and JPRubin23 report

Eight years later, Mark Karpeles, the CEO of infamous failed bitcoin exchange Mt. Gox –of crypto’s history of cyber thieves and epic collapses – is trying to make amends for the past.

In a speech at Tokyo's Foreign Correspondents' Club, he also came across as out of touch with current crypto trends. When Mt. Gox was at its prime there was no Vitalik Buterin or decentralized finance . Still, he's determined. Karpeles said UnGox would not have an S&P or Moody’s business model where the issuer buys the review. Instead, it will be available for free online, with more granular data available via a monthly subscription. The era in which UnGox will launch is much different than when Karpeles exited the crypto industry. In the halcyon days of 2014, there was bitcoin , litecoin and a few other altcoins, and DeFi had not yet arrived.

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