The IOU model of Coinprint has been rejected by Singapore arbitrators

ChainCatcher news, according to CoinDesk, a Singapore arbitrator has declared Poolin's IOU model invalid and ordered it to return 88 BTC (approximately $1.5 million) to customers. On Tuesday, Poolin CEO Kevin Pan stated that due to the company's ongoing cash flow issues, IOU payments have not yet been issued. Kevin Pan expects Poolin to make payments to Singapore case plaintiff Li Bei in the first half of this year, but this will still depend on Poolin's cash flow and market conditions.

Previously, ChainCatcher reported in September last year that Poolin's wallet indicated a liquidity crunch on the platform and was doing its utmost to provide a liquidity relief plan, subsequently issuing six types of debt tokens, IOU-Tokens, to represent assets such as BTC held by users, which can be converted back to the original assets quarterly. (Source link)