As many of you know, Bittrex today announced they are delisting Safex from the exchange. Little is known right now behind the reasons why and we’re waiting for an official statement from the Safex team.
The current date set for delisting is next Friday 15/12/2017.
As Europe wakes to the news of delisting the price of Safex has taken a negative turn.
However, community sentiment is cautiously optimistic, seeing this as an excellent PR opportunity for Safex.
The main thought behind Safex’s delisting is based on Bittrex’s policy of no longer allowing coins that represent a share or draw a dividend.
This, unfortunately, is the downside to centralised exchanges. They must comply with local law and jurisdiction, or face being shut down.
As soon as I receive an official statement I will update this page with the relevant information. It’s best if you follow us on twitter as I’ll be posting regular updates.
UPDATE – 10:01AM GMT – Daniel posted the following comment on the Forum
The delisting is news to us we just learned about it this morning like everyone else; $safex will issue a post later today regarding the situation.
— Daniel Dabek (@dandabek) 9 December 2017
I try not to post personal views, especially when it comes to finances, but I’m not worried.
If you’ve been following Safex for the past few weeks, you’ll know that there are huge efforts to get Safex listed on more exchanges.
A lot of people have been having issues with Bittrex, getting verified, and ongoing security concerns. This MAY be a necessary evil and a blessing in disguise.
Naturally, the price is going to react to the news and you will see a LOT of panic and FUD on Twitter, Discord and Facebook. However, many are confident the price will recover and gain momentum off the back of all this publicity.
Also consider there are some BIG updates due over the next few weeks, including an update to the website, the whitepaper and an affiliate scheme. We’ll also have more news regarding the alpha blockchain.
A lot in the community are asking what they should do. I will not tell you what to do with your coins. That’s a personal decision only you can make.
Many are seeing this as a good opportunity to clear out the short-term traders and attract more long-term holders who are attracted to the prospect of earning dividends.
Let us know what you think? Just please keep it clean.