Aphelion [APH] Disables Their DEX Causing a Flash Crash (-75%)...
Recently the SEC (Security and Exchange Commission) announced a decision that puts decentralised exchanges (DEX's) firmly in their crosshairs, with EtherDelta being the most high profile DEX affected so far.
Today the Aphelion team announced that they have disabled their mainnet DEX causing the value of APH to plummet to less than $0.01 down more than 70% from its previous lows, CEO Ian Holtz made the announcement via a blog post on Medium stating that "new SEC rulings, disastrous market conditions, NEO tech challenges and diminishing cash flow" culminated in the DEX being deactivated.
It is a shame because i felt that Aphelion was providing a solution to the problem of never-ending hacks on traditional exchanges and it was (and kind of still is) a promising endeavour, though there is no mention of cease and desists being issued by the SEC it seems that some are being proactive by stopping what they are doing until they are sure they are compliant.
See more on the recent decision by the SEC here: https://www.newsbtc.com/2018/11/19/tokens-plummet-15-20-following-secs-crackdown-on-icos-dark-days-ahead/
And see more on the Aphelion situation here: https://medium.com/@ianholtz/aphelion-disables-mainnet-dex-what-it-means-and-where-do-we-go-from-here-953b4dfa6bb7
Thanks for reading and if you found this interesting consider upvoting, following and resteeming.
P.S. If you are interested in buying or selling Steem consider using my link and sign up to Binance.
P.P.S. Verify your Steem account with Byteball and receive up to $160 free, download the Byteball walletand look HERE for further instructions.
Leave Aphelion [APH] Disables Their DEX Causing a Flash Crash (-75%)... to:
Best Posts From MoemanMoesly
We have not curated any of moemanmoesly's posts yet. But you can encourage our curation team to review posts by visiting them regularly and by referring other readers. Because we give priority to frequently read content.