Published On: October 8th, 2019Categories: Uncategorized

Bitfinex delays token sale to accommodate user base – AMBCrypto

Kim Dotcom, the creator of Megaupload entered the crypto sector after announcing the launch of his crypto content publishing and monetisation platform, While the crypto project was scheduled to launch via Bitfinex in October 21, the exchange tweeted regarding a delay,

“kim coin token sale has been rescheduled to start on 6th November 2019 at 12pm UTC to accommodate demand from an upcoming feature scheduled to launch during the week commencing 21st October 2019.”

In its official post, Bitfinex mentioned that “in order to give this new feature time to expose the sale to a larger user base, have agreed to reschedule the Public Sale start date to 12pm UTC on the 6th November 2019.” The post also mentioned,

“Already verified KYC checks for the token sale continue to remain valid and the existing KYC applications will be processed as per schedule.”

As for the investors’ interest, Bitfinex’s website highlighted that token price was placed at $0.04, and is anticipated to make a total of $8,000,000 or 962.979 BTC. While the minimum contribution has been set to $20, has been caped at $50,000. The company’s Chief Technology Officer, Paolo Ardoino, had previously stated that while most IEO’s are marketing campaigns that focus on achieving a short-term result, and highlighted that successful businesses are built through long-term, sustainable growth.

Arijit Sarkar

Arijit is a full-time journalist at AMBCrypto, who focuses on the XRP and Ethereum ecosystem. Leveraging over three years of experience in media and Majoring in Computer Science, he covers the technical developments in the crypto ecosystem

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