Liquidity Crunch
CoinList addresses ‘FUD’ on withdrawals, cites technical issues for delays
Cryptocurrency exchange and initial coin offering (ICO) platform CoinList took to Twitter to address “FUD” after a blogger tweeted that users reported being unable to withdraw funds for over a week, sparking fears the company was having liquidity issues or w insolvent. “There is a lot of FUD going around that we would like to address head-on,” CoinList said in a Nov. 24 Twitter thread that stated that the exchange is “not insolvent, illiquid, or near bankruptcy.” It said, however, that its deposits and withdrawals are affected by “technical issues.” 2/ We are upgrading our internal ledger systems and are migrating wallet addresses involving multiple custodians. This is one of many efforts we are undertaking to offer our customers around the world better products and services while mai...
CoinList addresses ‘FUD’ on withdrawals, cites technical issues for delays
Cryptocurrency exchange and initial coin offering (ICO) platform CoinList took to Twitter to address “FUD” after a blogger tweeted that users reported being unable to withdraw funds for over a week, sparking fears the company was having liquidity issues or w insolvent. “There is a lot of FUD going around that we would like to address head-on,” CoinList said in a Nov. 24 Twitter thread that stated that the exchange is “not insolvent, illiquid, or near bankruptcy.” It said, however, that its deposits and withdrawals are affected by “technical issues.” 2/ We are upgrading our internal ledger systems and are migrating wallet addresses involving multiple custodians. This is one of many efforts we are undertaking to offer our customers around the world better products and services while mai...
Kuwaiti opposition make gains in first parliamentary vote under new emir
Opposition candidates made gains in a parliamentary vote in Kuwait in which two thirds of MPs lost their seats and no women were elected, a result which analysts said could hamper government reform efforts to address a severe liquidity crunch. Emir Sheikh Nawaf al-Ahmad al-Sabah, who took the reins in September following the death of his brother, had raised hopes of a detente between the ruling family and their critics in the perpetually deadlocked and fractious parliament. The final count carried on state media on Sunday showed that 31 new lawmakers had been elected to the 50-seat assembly, which is unusually outspoken for the highly authoritarian Gulf region. None of the 29 female candidates who stood in the election were successful. There was no official figure for turnout but local med...
Norwegian Air furloughs staff, pleads for help to survive in 2021
Norwegian Air’s cash crisis could force the debt-laden budget airline to halt operations early next year, the company warned as it issued another plea for rescue funding after reporting quarterly results on Tuesday. The rapid expansion of the pioneer in low-fare transatlantic flights has left it with heavy debts and problems that have been compounded by the COVID-19 pandemic. It is now serving domestic routes only, with just six of its 140 aircraft flying. “Norwegian is dependent on additional working capital in order to continue operating through the first quarter of 2021 and beyond,” the carrier said. The company held cash and cash equivalents of 3.4 billion kroner ($380m) at the end of September, down from 4.98 billion kroner ($550m) three months earlier. Its latest plea comes after Nor...
