The cryptocurrency industry welcomed several mainstream entities into its ecosystem, this year. German entrepreneur and creator of Megaupload, Kim Dotcom was one of them. Almost a month ago he went on to reveal his crypto content monetization platform, K.im. The project was also bolstered by Bitfinex as the exchange announced that K.im would be the first token sale on the platform.
K.im was originally scheduled to go live by 21 October, however, Bitfinex revealed that the project has been delayed for the second time further delaying its rescheduled date of 6 November. The official blog post cited that the regulatory climate is the reason behind the delay. The blog post further read,
“The risks associated with raising funds for the K.im token sale have become clear, and we must put our community’s best interest first and foremost.”
Furthermore, the exchange asserted that it would be putting a pause on the Bitfinex Token Sale. The K.im team has reportedly supported the decision of Bitfinex on the same. The post went on to elaborate on K.im’s prospects during the delay. The post read,
“K.im will defer any decision on whether to create tokens on, or undertake a token issue in relation to the K.im platform until it is fully functional.”
Previously during the beginning of October, the exchange stated that the token sale would be delayed following the project’s motive to acquire a larger user base.
Bitfinex concluded the post by adding that the K.im project would continue and hinted that equity-based offer to investors would be made in the future.