EXMO Cancels Plans to Launch Public TGE Due to Full Supply of Own Funds

Press Release (ePRNews.com) - LONDON - Jun 25, 2018 - Cryptocurrency trading platform EXMO has chosen to call off a planned token generation event to the wider investing public due to full supply of its own funds for margin loans and other product launches. In regards to the process of selling units of a cryptocurrency ahead of its launch is unclear, EXMO cannot guarantee the absence of unexpected changes in the legal framework, which in turn will lead to high risks for our investors. We find this situation unacceptable, as the safety of our partners is our first priority.

Co-founder of the platform Ivan Petukhovsky, offered these words regarding the company’s decision;

“A stable positive dynamics of all financial indicators of the platform and the incredible user’s number increase (currently, we have more than 1.5 million traders, and there are more than 10 000 people that register on EXMO every day) allows us to fully supply our product business plan.”

EXMO’s previously collected funds from the crowdsale were supposed to be spent on the introduction of margin loans, the creation of an insurance fund for margin loans and obtaining the necessary licenses.

The decision to add the function of margin loans is primarily due to the increased demand of traders. By adding a new product, exchange users will be able to earn more on currency fluctuations through a loan of additional funds.

About EXMO

Founded in 2013 and based in London, Kiev, and Moscow, EXMO is the number one exchange in Eastern Europe, and one of the world’s largest global exchanges in volume and liquidity. There are 1.5 mln users, 50 000 active traders, 53 trading pairs, five fiat currencies, and $50 mln daily trading volume.

Media Contact Info

Contact Name: Maria Stankevich
Contact Email: Maria@exmo.com
Location: London, Great Britain
Contact Phone: (London): +44 7509 773 261
Contact Phone: (Moscow) +7 (916) 246-85-89

Find out more about Exmo here – https://exmo.com
Follow on Facebook – https://www.facebook.com/exmo.market
Follow on Twitter – https://twitter.com/Exmo_com
Join Exmo on Telegram – https://t.me/exmo_official
Check out the Exmo referral program here – https://exmo.com/en/referal_program

EXMO is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

Source : EXMO
Business Info :
Bitcoin PR Buzz

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CATEGORIES : Business Technology
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