SpotOption to finish its FX and CFDs Business

During the past 2 years the company has only been providing products for the CFD and FX markets
18 June 2018   1857

This decision follows 6 months after the trading software firm shut down its binary options business. The solution will not be accessible after August. SpotOption provided trading platforms and exchanges for 50 percent of all binary options trading platforms. Last year in October, nevertheless, the Israeli government passed the law banning binary options sales outside of the country.

The legislation, that came into force in January, was adopted after the Israeli government learned that the industry was leading to significant damage for the country’s reputation. As a result, SpotOption, which is based in Israel, ceased providing software for binary options trading. In a month after Israeli legislation, the company ran a subsidiary, OTC Book, a liquidity provider for the CFD, FX and cryptocurrency markets. It seems that this business branch will be closing as well.

The distinct reasons behind SpotOption’s resolution to stop its CFD and FX activities stay unclear. It looks possible that it is connected by the European Securities and Markets Authority’s recent clamp down on the retail trading industry.

A wide ran of firge of organizations within the retail industry are shutting down or moving offshore as a result of the legislation that prohibits binary options and puts heavy restrictions on leveraged CFD and FX trading. Whether or not ESMA’s legislation is the key reason for SpotOption stopping its CFD and FX activities is uncertain. Though, it is reasonable to consider it certainly have had an impact on their business.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   250

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.