Uploaded November 2022 | Updated September 2026, 2 weeks ago

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In this episode of UpOnly, Cobie & Ledger talk to Mark Karpelès, the former CEO of Mt. Gox, at the time the world's largest crypto exchange that failed and went through Bankruptcy. He talks about that process, and his thoughts on today's iteration of a similar situation with FTX.

00:00 - Intro
02:10 - Mark’s Mt. Gox Story
10:45 - Bankruptcy Filing at Mt. Gox and how it compares to FTX
21:38 - FTX Auditors / US vs. International
25:49 - Incentives for Bankruptcy Lawyers and Liquidators / Regulatory Corruption
37:30 - Bankruptcy Timeline / Mark’s thoughts on SBF
47:40 - Mark’s thoughts on the industry
56:00 - DeFi / Mt. Gox’s Bitcoin holdings
1:11:10 - Volatile Assets / Upside Opportunity for Creditors?
1:16:00 - Craig Wright / Jed McCaleb
1:22:20 - Silk Road and Dread Pirate Roberts / Ross Ulbricht
1:27:10 - Are there State Level Actors present in crypto? / Prison time
1:36:43 - Legal response to crypto / Will SBF go to jail?
1:42:40 - What is the best care outcome?
1:52:45 - Satoshi / Willy Bot / Litecoin / Closing thoughts