Bithumb Designates SANTOS, PORTO, and LAZIO Tokens as Investment Warning Assets

As South Korea’s premier digital asset platform, Bithumb has continually prioritized investor protection through its rigorous trading support policies and oversight of supported digital assets. In a recent announcement, Bithumb has notified users of its decision to designate three football club tokens—SANTOS FC (SANTOS), FC PORTO (PORTO), and SS LAZIO (LAZIO)—as Investment Warning assets. This decision is aligned with their “Virtual Asset Investment Warning Designation Policy.”

The primary reason cited for these new designations is the low liquidity associated with these tokens, which increases the risk of price manipulation and could potentially harm investors. As a protective measure, these tokens have been marked to alert investors to exercise caution when considering trades.

Here are the detailed plans for the Investment Warning designation:

1. Designation Date: April 5, 2024
2. Suspension of new deposits: Expected from April 5, 2024, at 12:30
3. Notice of extension, removal of designation, or end of trading support: Mid-April (between April 15 and April 19)

Please note that these schedules are subject to change due to internal circumstances. Additionally, if the reasons for the Investment Warning designation are resolved within the designation period, the assets may be cleared of the warning status.

Bithumb’s commitment to a sound and transparent trading environment is unwavering. The platform ensures ongoing and systematic supervision of supported virtual assets and maintains communication with external experts and foundations to provide a secure trading space for investors.

Investors are advised to stay informed about updates and to proceed with caution when trading these designated assets. Bithumb thanks its users for their continued support and understanding as it leads the way in creating a healthy and transparent trading ecosystem.

Image source: Shutterstock