Unfortunate About KnC. BTCX Not Affected

knclogo

The news that the swedish company KnC miner filed for bankruptcy emerged last friday night.

This is very unfortunate of course, for the employees and for the swedish blocktech scene, where KnC was a positive force.

Not much has changed however. Bitcoin is still bitcoin, the blockchain is still the blockchain and all the possibilities in this exciting field remain just the same today. That a large mining company goes away might even be positive for the decentralised nature of the technology…

BTCX is unaffected by the event.

It is unfortunate that trading in the two XBT Provider products ”Bitcoin Tracker One” and ”Bitcoin Tracker EUR” was stopped, but KnC Group tells us that: ”XBT Provider’s assets are not affected by the bankruptcy. The notes are always fully hedged by holding the underlying (bitcoins) in secure storage”

 

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