Poolin, one of the world's largest bitcoin mining pools, sought to assure users their funds are safe while acknowledging it is facing liquidity problems.
In a post on his WeChat Moments on Sunday, akin to a Facebook newsfeed, Poolin CEO and founder Kevin Pan acknowledged that the company is lacking liquidity, but said user assets are safe. Pan wrote that the company's net worth is still positive and that there will soon be a plan as to how to deal with the issues, according to a screenshot of the post. The plan might involve taking on debt backed by equity or machines, he wrote.
Prior to the announcements, customer service representatives on Telegram would usually tell users to wait and try to address individual complaints regarding withdrawal delays.
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