Shares 159 Views

FBICO? BTC-e Considers Debt Tokens and ICO to Repay Users

Embattled cryptocurrency exchange BTC-e is considering issuing tokens via an ICO to cover user losses similar to Bitfinex.

In a fifth Russian-language update on Bitcointalk today, the exchange said it now had control of 55 percent of its reserves, with 45 percent remaining under control of the FBI.

“For the past 14 days we’ve fought for your funds and managed to gain control of 55 percent (depending on the exchange rate),” the post begins. “The remaining 45 percent is apprehended funds, most of which are fiat.”

BTC-e is facing mounting pressure from US law enforcement agencies and users alike, who have been shut out from their accounts since last month.

The FBI had seized databases and wallets from the exchange, while the US Securities and Exchanges Commission (SEC) said it had wanted to fine it $110 mln for disregard of AML laws applicable to operators serving US customers.

The update continues with staff saying it was “in talks with a group of investors” over a potential takeover and subsequent payout to users. It added it would no longer be able to continue trading under the BTC-e brand.

Regarding the 55 percent available funds, these, it says, will be converted to new BTC tokens.

“To achieve quicker settling of our debt obligations, BTE tokens may undergo an ICO,” the update adds.

The mystery investment outfit in question works in full compliance with relevant KYC and AML standards.

A rough English translation of the update is available here.

You may be interested

Buy Bitcoins in Europe With Bitmoney.eu
bitmoney.eu
shares318 views
bitmoney.eu
shares318 views

Buy Bitcoins in Europe With Bitmoney.eu

Brian Evans - Aug 10, 2017

Want to purchase bitcoins? Look no further! Buying bitcoins has never been easier, with Bitmoney.eu. Bitmoney.eu makes the process of buying Bitcoin easy and efficient, saving customers…

Goldman Sachs: ‘Real Dollars Are at Work’ in Cryptocurrency Markets
Bitcoin
shares397 views1
Bitcoin
shares397 views1

Goldman Sachs: ‘Real Dollars Are at Work’ in Cryptocurrency Markets

Brian Evans - Aug 10, 2017

Goldman Sachs has published a question-and-answer report focused on cryptocurrencies in which it suggests that clients should be keeping a closer eye on the market. According to…

Bitcoin’s Present Bubble Might Actually be the Beginning of Mainstream Adoption
Bitcoin
shares398 views
Bitcoin
shares398 views

Bitcoin’s Present Bubble Might Actually be the Beginning of Mainstream Adoption

Brian Evans - Aug 09, 2017

Bitcoin’s enthusiasts are torn between whether to celebrate Bitcoin’s arrival in the foothills of mass adoption, or to lament the upcoming burst that always happens with asset…

Most from this category

%d bloggers like this: