• Titanic sinking
    Cryptocurrencies

    FCoin insolvent following incentive experiment gone awry

    To boost trading volume, the Singapore-based cryptocurrency exchange reimbursed fees for trades with its own FT coin

    FCoin, a cryptocurrency exchange based in Singapore, has halted all trading and withdrawals on its platform following the discovery that it is short some 7,000 to 13,000 bitcoin—worth roughly $70 million to $130 million at press time—and doesn’t have the funds to pay back users.