Exchanges are often involved in the process of launching new tokens and cryptocurrencies. Bitfinex, while originally scheduled to help launch Kimcoin, is now holding back on that decision.
It was known for some time Bitfinex would introduce the sale of Kimcoin. This will be done through the company’s Token Sale platform.
It is a common practice among trading platforms to explore these kinds of options.
No K.im Token Sale on Bitfinex
It now appears this token sale will not occur as originally planned. Bitfinex cites the recent changes in regulation are forcing their hand in this matter.
According to the company, there are risks associated with raising funds for the K.im token. As these risks are now clear as day, the company will put the best interests of its community above anything else.
While the deal is not off completely, the K.im token sale is postponed indefinitely.
The K.im team will announce any further decisions regarding their token. This is not expected to occur prior to the platform becoming fully operational.
Bitfinex leaves the door open for a future equity-based offer regarding the K.im project. Whether or not such an offer will ever be made available, has not been confirmed by either party.
Despite the setback, the Kimcoin project will continue its development. This seems to indicate the team has plenty of funds to make that happen.