Cyprus-based bitcoin savings and payment network Neo & Bee resumed trading on Havelock Investments today amid turmoil surrounding the company and its CEO.
At 5PM EST on 4th April, buy and sell orders for Neo & Bee on the private bitcoin-only investment exchange platform resumed after six days of suspended trading.
Neo & Bee saw high volume at the outset of resumed trade activity, with a plunge in prices from 0.002 BTC ($0.89) down to 0.0001 BTC ($0.05).
On 28th March, Havelock halted trading of the NEOBEE fund on its site due to what was then referred to as "questionable trading activity".
Havelock Investments made an announcement earlier today that the ticker name for Neo & Bee would be changed from NEOBEE to NEOBEEQ.
In the announcement, Havelock noted it has not received an update from Neo & Bee as of yet:
About Neo & Bee
Founded by Danny Brewster, Neo & Bee is a savings and payment processing infrastructure for bitcoin, and started doing business in Cyprus with plans to expand to the larger European market.
Neo is the company's banking arm, with physical branches. Bee is the payments portion of the business, thus the Neo & Bee name as two separate functions working together as one organization.
However, the company has been experiencing turmoil as of late. On 31st March, the company's shares were suspended from trading on Havelock due to some strange trades. Brewster, the CEO, made a statement on 2nd April in order to reassure the company's investors.
Havelock Investments bills itself as a bitcoin-based source for "private companies looking for venture capital", according to its website.
Since the NEOBEEQ trading symbol went live for Neo & Bee trading, the Havelock site has been experiencing intermittent outages with CloudFlare proxy placeholders often taking the place of active webpages.
Havelock Investments makes money via fees on its all-bitcoin platform. There is a 0.4% trading fee and it also charges users 0.0010 BTC, with 0.0005 BTC being paid as a network transaction fee, for withdrawals.
This story is still developing. CoinDesk will monitor and provide updates as new details become known.
Neo bank image via Cyprus Mail
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