Initial Exchange Offerings: The Benefits and Limitations

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Initial Exchange Offerings: The Benefits and Limitations
In this article, we want to in-depth explain the benefits of IEO for your business and its limitation. Nonetheless, to give ultimate tips on how to run a profitable IEO project.
Initial Exchange Offerings: The Benefits and Limitations

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Source: CoinSpeaker

Coineal chosen as CoinBene’s replacement for facilitating IEO amidst reports of suspicious activity

RedFOX Labs, a Vietnam-based blockchain Venture Builder, has replaced Coinbene with Coineal to run an IEO [Initial Exchange Offering].
The Komodo-backed project announced,

“We are pleased to announce that RedFOX Labs will be launching the RFOX Initial Exchange Offering with Coineal Launchpad starting on 14:00 April, 12 (UTC) and ending on 14:00 April, 19.
Visit for details >> https://t.co/Xv5wye0WXj pic.twitter.com/OtlBhjoFvS”
— REDFOX_LABS (@redfoxlabs_io) April 8, 2019

The latest development comes weeks after an original announcement by the firm stated the use of CoinBene’s Launchpad for the IEO. RedFOX announced the revocation after several crypto news portals reported suspicious activities associated with CoinBene, including delay in processing withdrawals and deposits. After community members feared another big profile hack, the exchange took to social media to announce a wallet upgrade to help users and partners on its platform avoid market risks in the light of multiple cases of asset theft.
Soon, RedFOX announced its decision to discontinue the IEO on CoinBene Launchpad, and tweeted,
“In light of recent events and due to community request, we will no longer be going through Coinbene. We will be going live on the 12th of April on a top 10 exchange to be announced tomorrow.”
Speaking about the switch from CoinBene to Coineal, the CEO of RedFOX Labs, Ben Fairbank, said that it was important to listen to the community and collaborate with a new “local partner” and move ahead with the IEO.
According to the official post, the IEO will now commence from April 12 to April 19. The official statement released by the firm also stated that the South Korean exchange was strongly “developing a global layout”.
The post also deemed Coineal as an ideal platform for RFOX’s token launch in the Southeast Asian market, citing the exchange’s strong regional footprint [with a stronghold in China, Japan, Korea, Vietnam and more] and a record of successful IEOs.
At press time, Coineal stood 11th on CoinMarketCap in terms of adjusted volume, accounting for $1.12 billion in trade, below Coinbene, which recorded an adjusted volume of $1.14 billion.
The post Coineal chosen as CoinBene’s replacement for facilitating IEO amidst reports of suspicious activity appeared first on AMBCrypto.
Source: AMB Crypto

Coinbene Exchange Guarantees 100% Compensation of Funds Midst Hacking Rumors

Coinbene released an announcement on 27th March on Twitter where is shunned all rumors of the Exchange being hacked. Most importantly, the announcement also added that Coinbene guarantees 100% security of users’ funds.
Coinbene Makes An Important Announcement As Users Cry ‘Hack’
Coinbene went into ‘maintenance mode’ on the 26th of March to update certain security measures in the Coinbene Wallets. While this was happening, many users started getting anxious as the maintenance continued for a long period of time. The users suspected a hack.
However, Coinbene assured its users that it was nothing adverse but just a maintenance schedule. In light of the recent hack on DragonEx, the security team of Coinbene Exchange decided to make certain updates to its wallets. It also set up a team to track anomalies in Exchange business.
The most important update in the announcement was that Coinbene assured its users of complete reimbursement of funds in the event of an attack.
According to the press release:
Users assets on Coinbene platform are 100% secure, our platform promises that if any any user asset will be lost, we will compensate 100%.
The year has witnessed two significant Exchange damages with QuadrigaX and DragonEX. The faith of the cryptocurrency community is shaken while they continue to trade on the Exchanges. Hence, the assurance comes as a relief for the users of the Coinbene Exchange.
However, Exchange promises are not a complete Financial Guarantee of the safety of the user’s funds as they can still deny responsibility. Hence, while decentralization must be upheld, the Exchanges must seek insurance against the funds with third-party financial institutions.
What other steps must the Exchanges take to secure the user’s funds? Please share your views with us. 
The post Coinbene Exchange Guarantees 100% Compensation of Funds Midst Hacking Rumors appeared first on Coingape.
Source: CoinGape

Binance Coin Jumps 13% while Silent Crypto Project ABBC Coin Flies to the Moon with 65% Gain

CoinSpeaker

Binance Coin Jumps 13% while Silent Crypto Project ABBC Coin Flies to the Moon with 65% Gain

Binance Coin (BNB) has lived up to expectations by climbing into the top 10 cryptocurrencies list. The coin climbed to the 7th position and registered a significant gain.

Binance Coin Jumps 13% while Silent Crypto Project ABBC Coin Flies to the Moon with 65% Gain

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Source: CoinSpeaker