On-chain fund platform Reserve suspends liquidity provision for LCAP and CMC20 on MEXC

TechFlow news, November 7: According to an announcement by on-chain fund platform Reserve, Reserve and its market-making partners will suspend liquidity provision for LCAP and CMC20 on MEXC and will soon withdraw the funds used to provide liquidity.

Reserve stated that the move is in response to the order issued by the U.S. Financial Crimes Enforcement Network (FinCEN) against MEXC, and liquidity for the two tokens on other trading venues and on-chain remains unaffected.

TechFlow previously reported that the U.S. Department of the Treasury has issued an order prohibiting U.S. financial institutions from sending or receiving funds to or from MEXC Global, and the order will take effect 30 days after publication in the Federal Register.

Source: TechFlow