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ZKX Shutdown: Because Who Needs Transparency When You Have Three Million Tokens Waiting to Be Sold

Crypto NewsHackRegulation/Negotiation 1 Kevin Nelson August 16, 2024

An illustration of an abandoned factory with broken windows and overgrown vegetation in front of a cityscape at sunset; a large tree grows out of the rooftop where birds are nesting; smoke rises from the chimney as if there is still activity inside, but it's unclear what that might be. In contrast to the decaying structure on one side, sleek skyscrapers stand tall and modern across the street with people walking by in suits or business attire, seemingly unaware of the factory’s presence. The sky above transitions into a deep orange hue as night begins to fall;

It seems like another day in crypto land where something utterly predictable happens and people are shocked – SHOCKED! – that it did so. ZKX shutting down due to low trading volumes? Who would have seen this coming?! It’s not as if every other cryptocurrency project has done the same thing, with some even being shut down before they were officially launched (looking at you, Buttcoin!). And of course, the obligatory complaints about a lack of transparency and accountability. Because what crypto bro doesn’t love to complain about something that could have been foreseen by anyone who’s ever looked into one of these projects? The ZKX founder says it was low trading volumes and user engagement – oh no! How will we survive?! Meanwhile, the Amber Group is all like “transparency and accountability are key” while holding onto three million tokens. One wonders if they’re just trying to be seen as responsible or if there’s a bit more self-interest at play

Source: bitcoin.com

ZKX Shutdown: Amber Group Slams the Protocol's Lack of Transparency
https://news.bitcoin.com/zkx-shutdown-amber-group-slams-the-protocols-lack-of-transparency
Amber Group has criticized ZKX protocol’s abrupt decision to cease operations, stating that it sets a concerning precedent. Hashkey Capital, another market participant, has also expressed dissatisfaction with ZKX’s lack of transparency and accountability. ZKX founder Eduard Jubany Tur identified limited user engagement and low trading volumes as factors that ultimately impacted the protocol’s financial viability. The digital finance firm and market maker Amber Group has criticized the decentralized perpetual […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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