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Tag Karpeles Spent Over fifty dollars, 000 on Kitchen Equipment For Bitcoin Cafe

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Mt. Gox wasn’t the only project headed by Mark Karpeles that ended up in limbo.

He was also working on bringing a Bitcoin Coffee shop to the ground level of the developing where Mt. Gox offices were located — a project he focused on until the very last days of Mt. Gox operations, according to the  Wsj.

The coffee shop was originally slated to spread out in 2013, featuring an impressive menu of coffee drinks, French quiches, one of which  WSJ says was an apple quiche that took hours for making.

So serious about the Cafe was Karpeles that he even took time removed from working on his exchange (which was handling hundreds of millions associated with dollars worth of bitcoins) to code software that would keep track of sales at the coffee shop — which would accept each bitcoins and Yen as a means of payment.

Karpeles purchased a 35 dollars, 000 pastry oven plus $23, 000 coffee machine for the cafe, and he even employed a pastry consultant plus transplanted a Tibanne (Mt. Gox’s parent company) worker to the cafe project full-time.

The funding for all of this remains doubtful.

The coffee shop was then slated to spread out in March 2014, yet by this time, things in Tibanne had gone awry.

In late February, Mt. Gox announced that it experienced essentially lost all trader bitcoins stored at the trade. To this day, it remains not clear just where all the money has gone.

This story also  outlines exactly how distracted Karpeles could be, even as his exchange was burning to the ground. Other things remained priority.

Browse the full  WSJ article here.