NEM Foundation’s Potential Bankruptcy And Layoff Plan
by dblackwng - January 31, 2019 at 04:06 PM
  • Potential reports of layoffs and financial troubles have made investors lose their confidence in NEM. Price drops by 9% in 4 hours.
  • Extravagant expenditure on marketing and budget of side projects responsible for low liquidity inside the company.
  • New Management and Road-Map at the helm to anchor the sailing ship
Price of XEM ticker Takes a Jibe
The Price of XEM/BTC has fallen down by 9% post the news of the tentative bankruptcy. The RSI index – 15 and 16 indicate oversold conditions in the daily and hourly chart respectively.

The predecessor of Tinsman, Lon Wong, had earlier been accused of unethical marketing by using NEM foundation‘s brand value to push ICOs with a personal stake in it. The NEM foundation’s one of the most significant projects; oil-backed cryptocurrency ‘Petro‘ coin also lost its valor soon after launch, with the Venezuelan citizens preferring Dash and Bitcoin instead.

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