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Bitfinex to push token sale to acquire larger user base

Manu Naik



Source: Pixabay

With the launch of the crypto content publishing and monetization platform,, Megaupload creator, Kim Dotcom entered the crypto industry. This crypto venture was expected to release through Bitfinex on 21 October. However, the exchange recently took to Twitter and revealed a delay in the launch. The tweet read,

“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.”

Bitfinex affirmed the same in a blog post, which attributed the delay to acquire a larger user base. The post suggested 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 12 PM UTC on the 6th November 2019.”

Bitfinex’s website further pointed out that a total of $8,000,000 or 962.979 BTC is expected to be made while the token price was placed at $0.04 and $20 is the minimum contribution. The post also suggested,

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

Earlier Paolo Ardoino, the Chief Technology Officer, suggested that successful businesses are established over long-term, sustainable growth, however, most IEO’s are marketing campaigns that concentrate on attaining a short-term result.

Manu is a full-time journalist at AMBCrypto covering the US and Indian markets. A graduate in engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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Gemini shines; Binance, Coinbase fall in CryptoCompare’s exchange rankings

Chayanika Deka



Source: Pixabay

Major cryptocurrency exchanges, Binance and Coinbase, have slipped in the revised version of a cryptocurrency exchange ranking list. The data, compiled by crypto-asset data provider CryptoCompare, was titled ‘CryptoCompare Exchange Benchmark Q3 2019,’ and used a new metric for the latest edition. The tool, dubbed the ‘Exchange Benchmark,’ rested on 30 factors, including the team behind the exchanges, the quality of their markets, their geographical location, legal status, and data provision.

Released on 19 September, Winklevoss twins’ crypto-platform Gemini dominated the chart and was graded AA, followed by ItBit at second, Coinbase at third, and Kraken on the fourth position. Notably, Coinbase had previously dominated the June crypto-exchange rankings and was rated AA. Bitstamp, Liquid, OKEx, Poloniex followed suit, and were rated A.

Bitfinex, one of the world’s largest Bitcoin exchanges, was ranked 10th and graded A. Interestingly, Bitfinex wasn’t even in the top 10 of the previously released rankings.

Binance was positioned as the 12th most-trusted exchange with 10.5 points awarded for security. The Malta-based platform slipped four positions since June, when the exchange was ranked 8th. The reason behind the same may be in light of the security breach in May, wherein 7,070 Bitcoins were stolen by hackers in a single transaction.

Additionally, the updated Exchange Benchmark noted that top-tier exchanges graded between AA-B accounted for 33% of the global trading volume. However, lower tier exchanges rated between C-E made up for 67%.

Talking about the Exchange Benchmark tool which is essentially meant to combine both qualitative and quantitative metric data without using volume directly, Charles Hayter, Co-founder and CEO of CryptoCompare, said,

“Our second Exchange Benchmark now includes a vastly expanded set of exchanges and even more granular analysis to enable market participants and new entrants to identify the best trading venues worldwide.”

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Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.