Crypto Exchange OKCoin Suspends Trading of Miami and NYC CityCoins

[Gunnar Larson]

Wow, sounds like STX and POX have some disclosures ahead of them.

You know, POX is a jehadist attack on the Bitcoin Blockchain, according to
Ken Griffin. "I wish all this passion and energy that went to crypto was
directed towards making the United States stronger," he said.

https://www.coindesk.com/business/2023/03/21/crypto-exchange-okcoin-suspends-trading-of-miami-and-nyc-citycoins/?outputType=amp


Crypto exchange OKCoin has suspended the trading of two citycoins,
MiamiCoin and NYCCoin, as of March 16, citing limited liquidity as the
reason for the decision.
“Limited liquidity for these coins on our platform has created the
possibility of price manipulation and fraudulent activity,” OKCoin wrote in
a blog post. “While none of these risks have occurred, we wanted to get
ahead of any possible misconduct.”
The exchange will resume the trading of those coins once the “unexpected”
low liquidity is solved. Until then, holders can continue to keep their
coins on the exchange or move them to a decentralized platform.

OKCoin, a globally licensed exchange headquartered in San Francisco, was
the only centralized exchange that offered citycoins, according to the blog
post.
Both MiamiCoin and NYCCoin are developed by CityCoins, which enables
citizens a way to generate crypto-based revenue for themselves and the
cities where they live.

Miami Mayor Francis Suarez was a particularly strong proponent of MiamiCoin
in its early days, touting the possibility to generate a “bitcoin yield”
for its citizens from its staking.

OKCoin didn’t immediately respond to a request for comment from CoinDesk.
Bloomberg previously reported on the news.
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