Bitkub told to fix platform issues
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Investor confidence dips on shutdown
published : 20 Jan 2021 at 06:30
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Thai cryptocurrency exchange Bitkub Online temporarily shut down its desktop trading platform on Tuesday following an order from the Securities and Exchange Commission (SEC) giving the company five days to fix issues with its platform which had crashed three times this month due to spikes in activity.
After being closed for 16 hours, its mobile application platform reopened for trading at 17.25.
The situation has raised fears among investors that they may lose their money if the site shuts down for good or cannot handle trading volumes, says an industry veteran who requested anonymity.
Price breakthrough highlights bitcoin s lure
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Unit used as portfolio management strategy
published : 18 Dec 2020 at 07:17 A representation of virtual currency bitcoin is seen in front of a stock graph. REUTERS
The price of bitcoin hit US$20,000 for the first time, a milestone for the world s most popular cryptocurrency, fuelled by institutional demand and the participation of Paypal, the giant global payment service provider.
According to Bitkub, Thailand s leading digital exchange, bitcoin hit a new all-time high of $21,569 on the US-based Coinbase market, a rise of 12.5%. In Thailand, bitcoin peaked at 700,000 baht on Bitkub, making a 200% return, which makes bitcoin the best performing asset this year.