Bithumb Designates SOFI as Closely Monitored Asset: Implications for Investors

South Korean cryptocurrency exchange, Bithumb, has recently announced a crucial decision concerning the RAI Finance (SOFI) asset. The exchange has designated SOFI as a ‘closely monitored asset,’ signifying increased scrutiny and potential risks for investors. This designation stems from specific concerns about the project’s operational transparency, business viability, and sustainability, impacting the broader cryptocurrency market. This article delves into the implications of this decision, explaining why Bithumb has taken this action and what it means for SOFI holders and the cryptocurrency market at large.