Another "green" cryptocurrency - EverGreenCoin - also soared at the end of April. It surged from $0.00065 in early April to a peak of $1.00 in May. Its market cap grew from $700,000 to $15 million. The former CEO of major crypto exchange Mt Gox is suing Tokyo-based Bitnet and co-founder Mark Karpeles for mismanagement, stating: "In [his] capacity as CEO of Bitnet, Karpeles would abuse this position for his own benefit." He also told the Independent: "It is easy for many to make a buck in this market place and that is why we need to protect the green ecosystem. Although the founders were foolish in this project, I cannot be held responsible for their actions. "This project has fallen to the bottom of the heap but it is only because of the lack of transparency, bad business practices and fraud. There are many more opportunities out there and I will be sharing more about them in the future." Bitnet raised $4 million in a funding round that took place in December of 2016, raising more than 70 times the amount investors paid.