OKEx and Huobi-Pro P2P trade launch

While Huobi issues a farewell to Bitcoin industry, rumors about p2p Bitcoin trading with support for fiat currencies (and the yuan) are spreading confidently
30 October 2017   2629

Chinese Bitcoin exchange Huobi issues a farewell to the industry as its shut down is planned for this Tuesday.

According to the exchange, Huobi China will "exercise full cessation of all digital assets against the yuan's trading business from 24:00, GMT+8" on October 31. Leon Li, the Founder of Huobi, claims that it would reimagine itself as an “integrated information and research service provider in the vertical field of Blockchain” dedicated to the Chinese market.

I believe that this is not only a milestone for Huobi but also a watershed in the history of Chinese digital assets and even a memorable day in the development of global digital assets.
 

Leon Li
Founder of Huobi

Still, there's a glimmer of hope.

According to local news feed on Twitter, the two umbrella exchanges, OKEx and Huobi-Pro, are “soon to launch” p2p Bitcoin trading with support for fiat currencies including the yuan.

While both OKEx and Huobi-Pro are international non-China based operations not subject to the domestic ban, the source speculates that through undisclosed mechanisms both could ultimately give access to Chinese traders.

In fact, OKEx itself somehow implies that "a New Era" is coming while announcing its future plans after the October 31 shutdown deadline.

We have nothing more to do but to wait, while the Chinese market situation is becoming more and more interesting. We'll keep you updated! 

Old Korean Social Network to Close After Tokensale

Cyworld platform started operating back in 1999 and it conducted an IEO at CoinZest this year
14 October 2019   49

Investors who acquired the clink cryptocurrency issued by the South Korean social network Cyworld are worried about the status of their investments due to the company's sudden closure, reports Korea Times. Some of them are ready to go to court.

The Cyworld platform was launched in 1999 and was especially popular among the country's population until the mid-2000s. The company, however, failed to see the trend towards the development of mobile solutions on time and as a result lost its position in the market. On October 1, it closed her platform without posting any warnings to users.

At the same time, the Clink site was unavailable, and Cyworld management continues to ignore the numerous requests of investors. The Korean exchanges CoinZest and BitSonic, where Clink is still being traded, are considering delisting the asset. Industry officials say Clink's investor losses will be at least 1 billion won ($ 845,000).

Clink's primary distribution was through IEO through the CoinZest platform earlier this year and, according to the Korea Times, it was the company's attempt to bring a fading social network back to life. A total of 24 million Clink tokens were sold for a total of 480 million won ($ 400,000).

In the second half of 2019, employees who have not received salaries since the end of 2018 began to leave the company en masse. Since the start of trading, the Clink price has fallen from 26 won to 0.19 won. According to the Coingecko portal, Clink's current capitalization and revolving volume are unknown, while the marginal issue volume is 10 billion units.