A U.K. gambling website that calls itself a ¡°real money virtual stock market¡± offering bets on soccer players said it¡¯s in talks to fix a liquidity crunch and paused a technology project with Nasdaq.
Football Index also said it would slash payouts, or ¡°dividends,¡± to clients in a move that caused an angry backlash on social media. The decision was made following consultation with legal and financial advisers, ¡°in order to ensure the long-term sustainability of the platform,¡± Chief Executive Officer Mike Bohan said in a statement.
¡°When it comes to liquidity, I want to assure you all that we have a dedicated liquidity consultant who is engaging with various third parties in the market,¡± Bohan added.
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