Former Mt. Gox CEO throws cold water on Brock Pierce’s plan to relaunch the infamous exchange6

The man behind the much-maligned crypto exchange Mt. Gox is throwing cold water on one crypto billionaire’s plan to revive the company.

Last week crypto investor Brock Pierce went on a media blitz to share his plan to reboot of Mt. Gox, the proto-exchange that shut down after 650,000 bitcoin disappeared from the site’s coffers. Pierce, who claims to own the majority of the defunct firm, is heading a “Gox Rising” movement with the goal to maximize creditor recovery though a quick payout. The next step would be to set up a new exchange in which all of the victims of the original Mt. Gox scam have an ownership stake represented by a token.

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