Cryptocurrency exchange with no trading fees COBINHOOD will reduce its team size to 30 people amid rumors of exit scam that appeared after its parent company Cobbingham Digital Finance Co. Ltd. filed for bankruptcy, Blocktempo reports.
COBINHOOD Founder Co-Founder, Mr. Tai-yuan (Popo) Chen, who previously was fired from COBINHOOD due to 'emotional instability and personal behaviors,' claims that the initiator of the whole incident was the Japanese venture capital firm Infinity Venture Partners (IVP).
Amid rumors of COBINHOOD closure, the exchange's native token cobinhood (COB) lost approximately 50% from $0,006 to $0,003.
What is more important is that the exchange’s associated company DEXON Foundation raised $3.5 million last month for its token DXN.
At press time, COBINHOOD has not made any official announcement.
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