Famous encryption exchange restructuring: exiting the US market and promoting a $100 million internationalization strategy

Recently, a well-known Crypto Assets exchange announced significant operational adjustments. The exchange will spin off from its original parent company and be taken over by an Asian company. This news has attracted widespread attention in the Crypto Assets industry.

According to industry insiders, the actual controller behind this Asian company is a well-known figure in the blockchain industry. This individual has had a good personal relationship with the founder of the original parent company and had previously invited the latter to a private dinner with Wall Street investment tycoons.

Looking back at the history of this exchange, it was acquired at a high price of $400 million in early 2018. At that time, the deal was led by a well-known venture capital firm. However, due to changes in the regulatory environment, the exchange's business has been severely impacted in recent years. From holding a market share of 58% of global trading volume in the first half of 2017, today's trading volume is only over $20 million, and its global ranking has dropped to over 80. In May of this year, the exchange has already started to restrict U.S. users from using certain Crypto Assets services.

In the latest announcement, the exchange stated that it will completely withdraw from the US market and will no longer provide any services for US users starting from November 1. Meanwhile, the exchange plans to launch a brand new international strategy, investing $100 million for business expansion. As one of the measures to attract users, the platform's spot trading fees will temporarily be reduced to zero from October 21 until the end of the year.

This series of changes reflects the regulatory pressure and market competition faced by crypto assets exchanges. As the global crypto assets regulatory environment continues to evolve, many exchanges are adjusting their business strategies to adapt to the new market landscape. Whether this restructuring can help the exchange regain its footing remains to be seen.

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GateUser-74b10196vip
· 07-19 09:28
Heh, the shareholders are having a bad time.
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BearMarketMonkvip
· 07-18 07:55
Cycle of reincarnation, who does not fall?
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MEVictimvip
· 07-17 09:42
The exchange really isn't an easy business.
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DAOdreamervip
· 07-16 16:19
Playing is playing, and messing around is messing around; without money, it's all just futile effort.
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RuntimeErrorvip
· 07-16 16:17
Just another failed story.
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