Cobinhood Announces Shutdown, Claims It Will Audit User Accounts

The message is fairly misty if the stage will be revived for exchanging or only recovery of assets.

The firm had to a great extent been quiet over the most recent eight months, with gossipy tidbits circling it might have failed or escaped with clients’ assets in a “leave trick.”

Organizer Popo Chen reacted in a blog entry in May 2019 saying that was not the situation, however the firm had issues.

He asserted a legitimate issue inside the firm had constrained him out quickly. Before long, Cobinhood likewise must be “suspended” and staff let go, he said. The trade, he stated, was “useful and not influenced.”

In July, Chen further posted:

The tentative arrangement of the organization isn’t conclusive yet. Investors are under positive exchange and we may arrive at a last arrangement pointing before the finish of July.

He additionally recognized issues with withdrawals at the trade, saying they were because of an “unsolved withdrawal issue.”

In 2017, Academy Award winning on-screen character Jamie Foxx advanced Cobinhood’s up and coming introductory coin offering, a deal that in the end raised nearly $10 million.

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