<p>Okcoin exchange has halted the trading of two proof-of-work tokens, the mining of which respectively supported the cities of New York and Miami, due to lack of liquidity, Bloomberg first <a href="https://www.bloomberg.com/news/articles/2023-03-21/miami-and-new-york-s-crypto-citycoins-meet-with-a-quiet-demise">reported</a>.</p> <p>Miami’s CityCoin got the city a $5.25 million dollar <a href="https://www.theblock.co/linked/132951/miami-receives-first-payout-from-citycoins-protocol">disbursement</a> in February last year. New York City Mayor Eric Adams gave his blessing to a similar cryptocurrency, <a href="https://www.theblock.co/linked/123890/mining-for-nyccoin-to-begin-wednesday-with-blessing-from-mayor-elect-adams">NYCCoin</a>, in November 2021.</p> <p>However, liquidity support for the CityCoins on Okcoin exchange fell below what the market could tolerate.</p> <p>The CityCoins halted trading on Okcoin March 16, “until we are able to safely restore trading, but we don’t know when that will be possible,” the exchange said in a <a href="https://blog.okcoin.com/weve-suspended-trading-for-nyccoin-and-miamicoin/">statement</a>.</p> <p><span class="s1">Neither of the coins is officially partnered with the cities, as noted by CityCoins website. However, Miami Mayor <a href="https://twitter.com/FrancisSuarez/status/1440090602213871617?s=20">Francisco Suarez</a> and <a href="https://twitter.com/ericadamsfornyc/status/1457803063666745346?ref_src=twsrc%5Etfw">Adams</a> both <span class="s2">previously</span> <span class="s2">touted</span> the token’s virtues, and 30% of the money spent on mining each coin was to be donated to the city the coin represented, according to Okcoin.</span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>