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Another crypto exchange throws in the towel

Bitfront announced it's shutting down on November 28.

By Finst News
• 2 min read
Another crypto exchange throws in the towel

Bitfront announced it's shutting down on November 28. New registrations and credit card payments have already been paused.

Bitfront stops trading activities

Bitfront, a US-based crypto exchange, announced the end of its trading activities yesterday, Monday, November 28. The company plans to focus entirely on developing Line's blockchain ecosystem in the future. In the official statement, Bitfront expresses regret about the circumstances: "Despite our efforts to tackle the challenges in this fast-evolving industry, we regret that we have determined that Bitfront must close."

Gradual wind-down

Another victim of the current market shock caused by the FTX bankruptcy? According to Bitfront, not so: the decision has "nothing to do with the recent issues around certain exchanges." The exchange will now wind down gradually until March next year. New registrations and credit card payments have already been suspended. Customers can still withdraw funds until March 31, 2023.

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