By Lewis - Cryptocurrency Speculator - 03-11-2021
Cryptocurrency exchange platform, AscendEX, has announced a new Series B funding round. Leading the round is American investment firm Polychain Capital and venture capital firm Hack VC. Joining the fundraising round will be Jump Capital, Uncorrelated Ventures, Alameda Research, Eterna Capital, Nothing Research, Acheron Trading, and Palm Drive Capital, to name a few. Imperii Partners will support the $50M funding for AscendEX, serving as the cryptocurrency trading platform's financial advisers.
Reportedly, according to AscendEX's statistics, over one million of their client base are retail and institutional investors. Collectively, the clients have been using AscendEX's crypto buying and selling services, custody, and staking tools since the company opened to the public in July 2018 under the name BitMax. AscendEX has since positioned itself as one of the top blockchain infrastructures in the decentralised finance (DeFi) industry. The crypto exchange also serves as a validator and yield farming site for more than 60 token projects. By looking at the AscendEX Earn and cross-collateralized staking products across the network, the platform is ideally positioned at the junction between centralised and decentralised financial sectors.
The CEO of AscendEX had stated that the company is excited to have so many major investors participating in the funding round. In the announcement, the CEO and Co-Founder George Cao had mentioned that the two firms, Polychain Capital and Hack VC, have been sponsoring some of the most major blockchain networks in the crypto and DeFi industry. The two companies have since become active catalysts of the DeFi ecosystem.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards