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.
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
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Altcoins outpace bitcoin as precious metals' historic rally keeps macro focus sharp
Altcoins posted broader gains in quiet Sunday trading as bitcoin held a tight range near $88K and analysts weighed crypto against the surge in precious metals.
What to know:
- XRP, dogecoin and solana outperformed bitcoin and ether over the past 24 hours in thin weekend trading.
- Analysts said bitcoin remains range-bound between roughly $86,500 and $90,000.
- Glassnode flagged spot price sitting near one on-chain mean while remaining well below short-term holders’ cost basis.
Top Stories
