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Bitfinex suspends the IEO of Kim Dotcom’s token
Bitfinex suspends the IEO of Kim Dotcom’s token
Crypto

Bitfinex suspends the IEO of Kim Dotcom’s token

By Marco Cavicchioli - 6 Nov 2019

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In an official post, Bitfinex stated that it had to postpone indefinitely the IEO of Kim Dotcom‘s token. As such, the launch of the K.im token on the famous exchange will not take place. 

The reason for this is the rapid evolution of the regulatory environment from the time the IEO was announced until today. In this regard Bitfinex states: 

“The risks associated with raising funds for the K.im token sale have become clear, and we must put our community’s best interest first and foremost”.

Therefore, after careful evaluation, Bitfinex Token Sales and the K.im team have agreed to suspend the sale of the token for now, postponing any other decision until the K.im platform is fully operational.

This means that the K.im platform project will continue, and according to Bitfinex, a share-based offer to qualified investors may be launched in the future. However, this could exclude the need for a token sale to raise funds. 

The K.im project is a blockchain-based network for monetising online content and aims to provide a comprehensive suite of services and advanced technologies to manage, protect and sell all digital content. 

The token sale was scheduled for the fourth quarter of 2019, and the decision was made to launch an IEO on Bitfinex. 

The indefinite postponement calls into question the token issuance itself, to the point that the official K.im blog states that the decision on the matter will be taken later. 

At the moment there are no known risks related to the evolution of the regulatory environment that led the two companies to take the decision to suspend the launch of the token indefinitely. 

 

Marco Cavicchioli
Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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