So far, PLAY has raised 1,788.94525968 BTC. In order to avoid unnecessary disputes, we hoped to preserve the fund during the fund-raising period in principle.
However since last week, the rate of Bitcoin has been dramatically fluctuating, so in order for PLAY to work as planned, we need to secure the value of the fund we raised to prepare for all possible contingencies, we decided to sell part of the Bitcoin and convert them to fiat and BitCNY.
To be more specific:
We sold out 1,000 Bitcoin in an exchange and got 1,197,344.88 CNY after the withdraw fee cut (making it 1,197.34CNY/BTC). We have also converted part of the fiat to 300,000 BitCNY.
We hope it could be understood that this operation is done in emergent situation and we hereby promise we will never send the raised BTC back the fund-raising address.
We thank for all the trust and investment from all of you and we will try our best to secure a healthy development of PLAY.