July 12, 2017

Comments on the Mark Karpelès trial

July 11 was the first day of proceedings for the anticipated trial of Mark Karpelès, CEO of the bankrupt MtGox bitcoin exchange. Karpelès was charged with creation and manipulation of private electronic records, as well as embezzlement of customer funds, or embezzlement of company funds, or breach of trust, in that order.

I was present in the courtroom for the entire first day, and I expect there will be a lot of interpretations and extrapolations based on the limited early information that will no doubt circulate online and in the media, so I will attempt to flesh out and explain what is actually going on through some brief commentary.