flickr user: 401(K) 2012
The original founder of Mt. Gox, Jed McCaleb, told Ars that he lost around $50,000 (held in dollars, not bitcoins) in the meltdown of the Bitcoin exchange that he created. The now-defunct Bitcoin exchange allowed users to hold US dollars and bitcoins in their online wallets.
In an interview with Ars, McCaleb said that he is no longer involved with the company—which eventually became the world’s largest Bitcoin exchange—since he sold it to Mark Karpeles. Karpeles is now at the center of the Tokyo-based company’s breakdown and bankruptcy and has said little about how Mt. Gox collapsed. McCaleb does, however, retain a 12 percent stake in the company, according to a company document leaked earlier this year.
“I met [Karpeles] I think on bitcointalk.org,” McCaleb said, referring to a primary discussion forum for Bitcoin users. “The Bitcoin community was very small at that time and I asked him to do some software development for me. He did that task and I was looking for someone else to run Mt. Gox so I could focus on other things. We discussed the possibility of him buying Mt. Gox from me and I ended up selling it to him in 2011.”
Read 7 remaining paragraphs | Comments