Brazilian bank suspends native crypto token trading following 97% price drop

Nubank suspends trading of its native token, offering users the option to convert holdings to Bitcoin or USDC by Dec. 9.

Nubank, one of Latin America’s largest crypto banks and backed by Warren Buffet’s Berkshire Hathaway, announced on Sept. 10 the immediate suspension of trading for Nucoin, its native cryptocurrency. The token’s price has dropped over 97% over the last year.

Nubank announced the creation of the Nucoin token on the Polygon blockchain on Oct. 19, 2022.

Almost two years after the announcement, the bank closed its trading. The bank has given customers who have at least 10 reals ( in Nucoins (NUC) the option to convert them to Bitcoin or stablecoin USDC by Dec. 9.

Nubank suspends trading of its native token, offering users the option to convert holdings to Bitcoin or USDC by Dec. 9.
Nubank, one of Latin America’s largest crypto banks and backed by Warren Buffet’s Berkshire Hathaway, announced on Sept. 10 the immediate suspension of trading for Nucoin, its native cryptocurrency. The token’s price has dropped over 97% over the last year. Nubank announced the creation of the Nucoin token on the Polygon blockchain on Oct. 19, 2022.Almost two years after the announcement, the bank closed its trading. The bank has given customers who have at least 10 reals ( in Nucoins (NUC) the option to convert them to Bitcoin or stablecoin USDC by Dec. 9. Read more