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"The move comes as major cryptocurrency exchanges look to prove their solvency, and show they have enough money to cover customer withdrawals."
This is a confusing statement/request.
'Investors' in altcoins exchanged one currency for the prospect of another ... the claim is that altcoins are a new form of currency. Or that's what my understanding is.
So are they selling coins that don't exist and won't ever exist?
I doubt that, mostly.
So what they are pissed about is that the exchange rate for buying coins has dropped?
That too seems of because the exchange rate of many currencies fluctuates. The exception to altcoins is that there is a fixed number of them available and that is where the demand value/exchange rate comes from ... the less available Bitcoins the more valuable they are if you want one.
I mean it's not like there's enough printed currency in the US to cover much of anything. If any one of the ultra rich decides to take the cash option ...
And it's not like the us Gov't can pay any of it's debts with printed money either.
I'm not saying coins are a total scam. Just that if a ratings company is going to judge they need to do so with a level playing field. Currency vs currency.
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