Share this article
Mt Gox CEO's Embezzlement Trial Begins Tomorrow
The chief executive of the now-defunct bitcoin exchange Mt Gox is set to appear in court this week.
By Stan Higgins
Updated Sep 11, 2021, 1:31 p.m. Published Jul 10, 2017, 5:35 p.m.
Make us preferred on Google
The chief executive of the now-defunct bitcoin exchange Mt Gox is set to appear in court this week.
According to reports from AP and AFP, CEO Mark Karpeles will appear in a Tokyo court on Tuesday. Arrested and charged in 2015 with embezzlement and data manipulation, Karpeles was released on bail just under a year ago.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
was once the world's most voluminous bitcoin exchange, capturing the majority of the globe's bitcoin trade, before it collapsed in early 2014 amid allegations of fraud and mismanagement. The company behind the exchange remains in bankruptcy, and is the focus of a years-long claims process.
It was Mt Gox's collapse, in part, that triggered a broad government initiative that led to the creation of a legal framework for regulating bitcoin exchanges as well as the recognition of the digital currency as a kind of electronic payment method. Those efforts began in the months after Mt Gox's closure.
AFP reports that, per his attorney, Karpeles is expected to plead innocent when the trial gets underway tomorrow. If convicted, Karpeles faces as many as five years in prison.
"He is keeping calm as the trial gets underway," Kiichi Iino, who is representing Karpeles, told the publication.
Image via CoinDesk
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
