{"id":20061,"date":"2019-05-23T16:16:37","date_gmt":"2019-05-23T16:16:37","guid":{"rendered":"http:\/\/ci027cfe62802926c3"},"modified":"2019-05-23T16:16:37","modified_gmt":"2019-05-23T16:16:37","slug":"founder-defunct-cryptopia-launches-new-crypto-exchange","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/founder-defunct-cryptopia-launches-new-crypto-exchange","title":{"rendered":"Founder of Defunct Cryptopia Launches New Crypto Exchange"},"content":{"rendered":"
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The founder of defunct cryptocurrency exchange Cryptopia, which entered liquidation following a hack<\/a> in January 2019, has launched a new exchange called Assetylene.<\/p>\n

The LinkedIn<\/a> employment history for the founder of the failed New Zealand exchange, Adam Clark, indicates that he\u2019s been working on Assetylene since September 2018, which is also when the exchange\u2019s Twitter<\/a> account went live. With fewer than 100 followers, the account is billed as representing \u201cNew Zealand\u2019s most advanced crypto-currency exchange [sic].\u201d<\/p>\n

Once a highly prominent exchange in New Zealand, Cryptopia lost nearly 10 percent of its entire liquidity in a hack earlier this year. Attempts to salvage the business ultimately failed. On May 15, 2019, its liquidators formally announced<\/a> that the company was defunct. At the time of this writing, hundreds of thousands of dollars worth of Cryptopia\u2019s assets are still circulating<\/a> in an easily tracked manner.<\/p>\n

Seeing as Cryptopia did not fully close until May 2019, and Assetylene\u2019s date of founding is listed in the preceding September, it may be that Clark had moved on to this new business well before Cryptopia\u2019s collapse began. However, there\u2019s also reason to believe that Clark set up the new exchange quickly, after Cryptopia\u2019s hack had already occurred.<\/p>\n

For one, an archived copy<\/a> of the Assetylene site shows that it is based on the TradeSatoshi platform, which can set up exchanges within minutes. Furthermore, Clark\u2019s own LinkedIn shows that he was TradeSatoshi\u2019s senior software development engineer when Assetylene was first set up. More damningly, Assetylene has zero liquidity<\/a>, is not listed on CoinMarketCap and its about<\/a> page is empty with no trading data found on the site.<\/p>\n

Assetylene may very well become a full-fledged exchange with time. However, given the time period that it has apparently remained inactive while Cryptopia was still viable and its current insufficiency, the jury\u2019s still out.<\/p>\n","protected":false},"excerpt":{"rendered":"

The founder of defunct cryptocurrency exchange Cryptopia, which shut down following a hack in January 2019, has launched a new exchange called Assetylene.<\/p>\n","protected":false},"author":2545,"featured_media":20048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[357,3088],"class_list":{"0":"post-20061","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-exchanges","9":"tag-new-zealand"},"author_data":{"id":2545,"name":"Landon Manning","nicename":"landon-manning","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/img_2749-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/founder-of-defunct-cryptopia-launches-new-crypto-exchange.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2545"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=20061"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/20048"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=20061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=20061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=20061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}