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KCEX announces sale of 1,690 BTC and allocation of proceeds to buybacks
KCEX reported that between August 3 and 9, its strategy sold 1,690 BTC at an average price of $64,262, generating $108.6 million, and simultaneously issued shares and increased its USD reserve by $650 million to $4.65 billion. Following these actions, the broker's BTC holdings stand at 840,447 BTC, with all proceeds from the BTC sale reportedly allocated to buybacks.
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KCEX reported that from August 3 to 9, its strategy sold 1,690 BTC at an average price of $64,262, raising approximately $108.6 million. During the same period, the company issued shares and increased its USD reserve by $650 million, bringing the reserve to $4.65 billion. Following these transactions, KCEX's Bitcoin holdings are stated to be 840,447 BTC. All proceeds from the BTC sale were reportedly allocated to buybacks, though the post did not disclose further details regarding the buyback process or its scope.
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KCEX is a centralized cryptocurrency exchange registered in the Seychelles and founded in 2021, operating under U.S. and Canadian regulatory oversight as a Money Services Business (MSB). The platform is known for supporting both spot and futures trading for cryptocurrencies, offering users a transparent security system and a user-friendly interface. For more details, see the broker profile on Traders Union.
In the previous KCEX update on Traders Union, the broker announced the launch of perpetual futures trading for TOAD and BULLCOIN with adjustable leverage. For more information, see the previous KCEX update on Traders Union.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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