Prominent cryptocurrency entrepreneur Brock Pierce is attempting to revive the defunct Mt. Gox exchange by submitting a single rehabilitation plan for creditors called Gox Rising. Back in 2014, the former CEO of Mt. Gox, Mark Karpeles, reportedly signed over all of the business’s assets to Pierce and a firm called Sunlot Holdings Limited.
The Wild Attempt to Revive Mt. Gox
According to Goxrising.com, a plan is in motion to help the creditors of Mt. Gox gain restitution. At The North American Bitcoin Conference (TNABC) in Miami, Brock Pierce revealed the plan to help claimants get their return of bitcoin lost years ago. On Jan. 22, Gox Rising Limited published a press release describing the ‘United We Rise’ rehabilitation proposal which outlines the effort in greater detail. The plan calls for an implementation that should focus on a high degree of certainty so that claims can be “repaid in bitcoin and bitcoin cash.”
“The Gox Rising movement aims to restore the creditors’ losses as well as the world’s faith in the cryptocurrency industry,” stated Brock Pierce during his speech in Miami.
Gox Rising Limited hopes to revamp Mt. Gox in order to pay creditors back.
Following the announcement, leaked documents stemming from the trial have been revealed over the last two weeks concerning Mt. Gox creditors, the company’s trustee, and Coinlab. According to additional reports, Pierce and the firm Sunlot Holdings Limited allegedly purchased all of the remaining Mt. Gox assets for a single bitcoin. The deal was supposedly agreed upon by Mark Karpeles and Tibanne (Mt. Gox’s parent company) but it is unclear if the agreement is binding.