Exchanges

Bittrex cancels Initial Exchange Offering following changes to RAID project

March 15, 2019, 11:00AM EDT

U.S. crypto exchange Bittrex has announced the cancellation of the Initial Exchange Offering of the RAID token. According to Bittrex, RAID has undergone significant changes, and “OP.GG terminated its strategic partnership with RAID, which was a vital part of the RAID project.” For that reason, Bittrex no longer believes it can continue with the IEO in good faith.

"One of the hardest challenges we face in advancing blockchain adoption is to avoid the rampant fear, uncertainty, and doubt that is everywhere in this industry," Bittrex writes. "When we become aware of significant events, we respond quickly to protect our users."

Before the cancellation, the company suggested Chinese citizens might be able to participate in the IEO if they were eligible for Bittrex International, despite the country's ban.