Good day everyone,
I hope you are all well and having excellent day, welcome to CryptoGod-1’s blog on all things crypto. The cryptocurrency exchange 'Dasset' has decided its only option is to go into voluntary liquidation, as users assets are frozen with the New Zealand based exchange.
Dasset Cryptocurrency Exchange
The Auckland-based crypto exchange Dasset has gone into the process of liquidation, and in the process has denied hundreds of customers access to their assets. Representatives of the company have revealed it is the beginning of its liquidation, as reported by the local media outlet the Herald on the 14th of August 2023.
According to the report, some customers have been attempting to withdraw funds without success for months, while a group of around 16 Dasset customers that they have assets ranging from NZ$3000 and NZ$40,000 trapped on the exchange.
The company’s CEO, Stephen Macaskill, was quick to explain to the media that the exchange has not had a replacement banking provider since January 2023, and this was a result of its incumbent provider pulling their services. He went on to explain that it has forced them to being the process of a voluntary liquidation, although it is interesting to note that it is still possible to open a new account on Dasset. He noted:
“Dasset has not had stable banking since January. The banks do not like the crypto industry. Dasset has gone into voluntary liquidation.”
No news regarding the liquidation has appeared on the company's official Twitter or Instagram accounts, but the link to the company website now leads to the page of law firm Grant Thornton’s announcement about the liquidation of the exchange. They have been appointed the official liquidator for the company, and are expected to contact all customers and suppliers in the next few days. Their notice reads:
“Dasset’s management says a significant reduction in asset values and trading levels impacted its ability to trade profitably. It was determined the appointment of liquidators was in the best interests of all stakeholders.”
It is believed an official closed-door meeting of the Dasset shareholders on the 7th of August took place, where Macaskill failed to answer shareholders’ questions. Sources claim a resolution was passed to appoint a voluntary liquidator to the exchange. David Ruscoe and Russell Moore are the appointed liquidators from Grant Thornton New Zealand, and their “immediate focus” is on securing and protecting Dasset’s assets. The firm added:
“There are third parties involved and nearly 100 different types of digital assets. We will work with management and third parties to resolve any issues as soon as possible, and we will update all stakeholders on progress as regularly as possible.”
Tough times for those with assets on the exchange, and hopefully unlike many other big exchange issues (such as FTX) this can have a swift and satisfactory conclusion.
Have a great day.
Peace. CryptoGod-1.
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