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FCoin Declares Itself Insolvent, Reveals $130 Million Shortfall in Bitcoin

FCoin Declares Itself Insolvent, Reveals $130 Million Shortfall in Bitcoin

Cryptocurrency exchange FCoin recently declared that it is insolvent and reported a shortage of cryptocurrency assets of up to $130 million. The exchange has withdrawn all trading and withdrawals for users. FCoin followed a very controversial “trans-fee mining” model. The exchange began in May 2018 when former Huobi CTO Zhang Jian introduced a new exchange model.







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