Bitfinex and Kim Dotcom ‘mutually agree’ to delay Kimcoin’s token sale
Controversial internet entrepreneur Kim Dotcom and Cryptocurrency exchange Bitfinex have “mutually agreed” to defer Kimcoin’s token sale.
According to a statement issued by exchange, the decision was taken as a result of the regulatory environment rapidly evolving since the sale was first announced in late September.
“The risks associated with raising funds for the K.im token sale have become clearer, and we must put our community’s best interest first and foremost,” the statement reads.
“After careful evaluation, we regret to announce that Bitfinex Token Sales and the K.im team have mutually agreed not to hold the token sale at this time,” it adds, “K.im will defer any decision on whether to create tokens on, or undertake a token issue in relation to the K.im platform until it is fully functional.”
K.im’s platform project is set to continue and it’s likely that an equity-based offer will be made sometime in the near future, the statement adds.
A few months ago, Hard Fork reported on how Kim Dotcom was looking to sell tokens to build a Blockchain-powered content network, K.IM, pitched as a “secure and dynamic ecosystem” where consumers and publishers of digital content could easily transact and bypass middlemen.
It’s also expected that Kim users would be able to pay with Bitcoin once the platform goes live. However, this is likely to be a more cumb