New Crypto Exchange Draws Fire Over Controversial Business Model

China-based FCoin – a new cryptocurrency exchange launched in May that takes a novel revenue model – has come under the spotlight after its trading volumes appear to have almost immediately far surpassed some of the largest exchanges.

While the platform's trading data is currently not visible on more notable third party sites such as CoinMarketCap, a similar service in China indicates that FCoin saw over $5.6 billion in trading volume over the last 24 hours – more than the sum of the top-10 platforms on CoinMarketCap.