Tag Archives: collateralized

CoinMarketCap Clarifies $CMC20 Listing as New On-Chain Index Token: Goes Live on BNB Chain

Posted on by — No Comments ↓

CoinMarketCap is stepping into a new chapter this week, but not in the way many users assumed. After MEXC announced the listing of a token labeled MC20, confusion erupted across the crypto community. Many believed CoinMarketCap had finally launched its own native token. The company quickly corrected the record. CoinMarketCap acknowledged the MEXC listing, but also stressed a key point: CoinMarketCap does not have its own token. The MC20 ticker is not a CoinMarketCap coin. Instead, it represents a new on-chain index product built by third-party partners, with CoinMarketCap acting strictly as the index provider. SCAM ALERT: CoinMarketCap does NOT The post CoinMarketCap Clarifies MC20 Listing as New On-Chain Index Token: Goes Live. Continue reading CoinMarketCap Clarifies $CMC20 Listing as New On-Chain Index Token: Goes Live on BNB Chain→

Major Cryptocurrency Exchange Responds to Claims of “Financial Difficulties”

Posted on by — No Comments ↓

The post Major Cryptocurrency Exchange Responds to Claims of “Financial Difficulties” appeared com. The exchange management issued a statement regarding the financial difficulties allegations that have been spreading on social media regarding the MEXC exchange in recent days. The discussions began when a user’s stablecoin withdrawal request worth approximately $3 million was initially rejected, but the transaction was later approved following reactions. In a statement, MEXC defended the allegations as unfounded: “Recently, unsubstantiated rumors have been circulating online regarding MEXC’s financial situation. We would like to clearly state that these claims are false and misleading. MEXC has a strong financial structure. All user assets are fully collateralized, and our Proof of Reserves (PoR) data shows that major assets are backed by over 100% collateral.” The statement also noted that a transparent proof-of-reserve system with a Merkle Tree structure is used, allowing users to independently verify their holdings. MEXC stated that the current PoR data will be updated overnight for user verification. The exchange argued that financial reserve data is available not only on its own website but also from multiple sources such as CoinMarketCap, CoinGecko, and DefiLlama. It also noted that the address of the $100 million Guardian Fund, previously established to protect user assets, has been publicly shared. At the end of its statement, MEXC included the following statements: All platform operations are continuing as normal. We ask our community to refrain from sharing or engaging with unverified information. We thank all our users who have followed our official announcements. *This is not investment advice. account now for exclusive news, analytics and on-chain data! Source:. Continue reading Major Cryptocurrency Exchange Responds to Claims of “Financial Difficulties”→