United States has cancelled its first , dubbed an Initial Exchange Offering (IEO), which it had been planning to host on its -based counterpart, Bittrex International. The was announced in an official statement on March 14.
Earlier this week, Bittrex International had plans to host the IEO today, March 15, allowing investors to use () to purchase “XRD” , developed by international gaming data project, Raid.
In yesterday’s announcement, the exchange outlined that it decided to cancel the IEO “as a result of significant changes in the business status of RAID.” Specifically, it explained that:
“A few hours ago [on March 14], OP.GG terminated its strategic partnership with RAID, which was a vital part of the RAID project. When [we] became aware of this significant event, we did not feel that it was in the best interest of our to move forward with the IEO.”
Bittrex International states that it chose to act quickly, citing the challenges it faces as a crypto platform to remain “vigilant to ensure the integrity of our markets.” The statement added that:
“one of the hardest challenges we face in advancing is to avoid the rampant fear, uncertainty, and doubt that is everywhere in this industry.”
As previously reported, Bittrex’s move to enter the exchange-hosted space follows the precedent of major crypto exchange . The exchange’s platform Launchpad the high-profile for the -based (BTT) this January, by another public for AI and smart contract project Fetch.AI in February.
Bittrex is currently ranked largest crypto exchange globally by adjusted daily trade volume, seeing about $62.8 million in trades on the day to press time.
Published at Sat, 16 Mar 2019 05:06:42 +0000
