Former Mt. Gox CEO Mark Karpeles Rejects Brock Pierce’s Plans to Reboot Exchange

Mark Karpeles — the former CEO of the now-defunct Bitcoin (BTC) exchange Mt. Gox — has refuted controversial crypto figure Brock Pierce’s claims he can reboot the trading platform and accelerate compensation for Mr. Gox’s creditors. Karpeles made his remarks in private correspondence with Cointelegraph Japan on Feb. 12. As reported, Pierce — a crypto entrepreneur who co-founded Blockchain Capital, Block.one and EOS Alliance — is attempting to galvanize a “GoxRising” movement, purporting that creditor recovery would be speedier if certain legal and technical barriers were to be overcome. The…

Bitcoin Price Pierces $8,500, Extending Bull Run Further

Fundstrat founder Tom Lee’s prediction that the bitcoin price would see “new highs in July” appears unlikely to materialize, but there’s no denying that the market has been showing signs of emerging from the seven-month bear market that drove cryptocurrency valuations down approximately 70 percent from their mid-December peaks. Tuesday evening, that rally took another step forward, as the bitcoin price barreled through $8,500 for the first time since May 21. On Bitfinex, the flagship cryptocurrency marched past this threshold at approximately 23:45 UTC, ultimately inching up to $8,503 before…