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.