January 24, 2021

Bitfinex Exchange Cancels K.im's IEO Project Due to Regulatory Concerns

Bitfinex cryptocurrency exchange canceled the K. Token decentralized content monetization platform K.im due to regulatory concerns.

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Representatives of the exchange noted that since the announcement of the K.O.im project IEO in September this year, the regulatory environment has changed significantly and the risks associated with this token sale have become apparent.

“We regret to inform our community that the K.im token sale has been postponed indefinitely. Both teams decided that regulatory risks are too great for all stakeholders ”

The Bitfinex blog also says that in the near future K.im will invite qualified investors to participate in the project.

K.im raised $ 2.5 million in investments from Bitcoin Capital, BnkToTheFuture and other firms. A full-scale launch of the platform is scheduled for the third quarter of 2020.

ForkLog previously posted a lot of material about the K.im platform and its creator, Kim Dotkom.

Recall that the market share of the Bitfinex exchange fell to 7%.