Coincheck’s Comeback Story
After a tumultuous year in the crypto world, Coincheck, the Japanese cryptocurrency exchange, is back in the game. Following a wild ride that included an infamous hack costing a jaw-dropping $534 million in NEM (XEM) tokens, the exchange has re-emerged with a new strategy and a glimmer of hope!
Safety First
In a bid to revamp its public image, Coincheck has recently partnered with external security experts. These specialists have scrutinized the exchange’s systems, and Coincheck is now touting, “technological safety has been verified.” If that doesn’t raise your confidence, I don’t know what will!
New Offerings
In addition to NEM, Coincheck has decided to broaden its horizons by adding support for other popular cryptocurrencies, including Ethereum (ETH) and Lisk (LSK). It’s like having a buffet, but instead of food, it’s digital gold!
Compliance is Key
To further validate its commitment to safety, Coincheck has joined the Japan Security Association. This move aligns the exchange with new regulations aimed at protecting customers’ assets and preventing money laundering (AML). Funny how a little bit of trouble can lead to a whole lot of improvement, huh?
Financial Landscape
Despite the recent good news, the numbers tell a different tale. Monex Group, which acquired Coincheck recently, reported a 66% decline in revenue for Q3 2018. Talk about playing hard to get! But as Monex puts it, they are committed to normalization. Let’s hope that means they’ve got their finances in order and are ready to play the long game.
Market Reaction
Within 24 hours of the trading announcement, NEM soared by 6.18%, currently trading at $0.11. It seems investors are optimistic about Coincheck’s future – or maybe they just love a good comeback story as much as we do!
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