KuCoin and Poloniex Engage Users …
KuCoin and Poloniex Attract Users of FCoin Insolvent Crypto Exchange
Another blow to the cryptocurrency community was the announcement of the insolvency of the FCoin exchange, which owed its clients up to $ 124 million. Other trading platforms decided to support FCoin lenders and at the same time expand their user base.
The KuCoin exchange announced the launch of the FCoin program for market makers to “help them cope with a difficult situation.” For this KuCoin and partners are ready to allocate up to $ 50 million.
Users who have market maker status on FCoin will be able to enjoy the same benefits on KuCoin “for at least 3 months” and join the corresponding incentive programs on the main exchange and KuMEX derivatives platform.
“To help market makers with FCoin reduce losses, KuCoin, together with professional lending partners, will provide loans at zero interest rates up to $ 50 million,” the exchange writes. – Loans cover assets in BTC, USDT and ETH, and their size depends on the amount lost “.
In addition, TRON CEO Justin Sun, who acquired Poloniex at the end of last year as part of a group of Asian investors, has offered a 1,000 BTT ($ 0.50) bonus to all FCoin users who agree to join its trading platform..
“The news about FCoin amazed me with its tragedy. [FCoin CEO] Zhang Jian is a close friend of mine. I can attest to the challenges he faced when setting up a business, and I deeply sympathize with the users who have suffered losses, Sun writes. – I contacted Poloniex and we decided to campaign. All FCoin users who register at Poloniex.com can receive 1,000 BTT. Although this is a small amount, we want to take part in reimbursing the losses of users throughout the crypto world! “
Binance CEO Changpen Zhao has a different opinion about the creator of FCoin. “I rarely criticize anyone, but there are exceptions. In Chinese social networks, I called FCoin a pyramid scheme back in mid-2018. The founder described his plan as “a better invention than bitcoin.” That was enough for me. Who would talk about themselves like that? Only a scammer. Now they are insolvent. The founder wrote a “touching message,” admitting that the problem had existed from its earliest days, “Zhao said..
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