

Business
Crypto Exchange Bitfront Announces Its Shutdown; Here’s Why – Crypto News
Bitfront News:
Also, 31 March 2023 has been announced as the deadline by the exchange firm Bitfront to clear all the deposits and withdrawals of investors. This year has been exceptionally challenging for the crypto market, thus, pushing Bitfront to close down.
It is being backed by a Japanese LINE Corporation. Bitfront said that their shutdown is in the best interest of the LINE blockchain and the LINK token economy. In a notification issued by the firm, it said, “despite our efforts to overcome the challenges in this rapidly-evolving industry, we have regretfully determined that we need to shut down Bitfront in order to continue growing the LINE blockchain ecosystem and LINK token economy.” .”
It is also mentioned that they have done their best to be the leader in the blockchain industry. In the statement it reiterated that they are not shutting down because of the recent news of firms being accused of misconduct. Bitfront is shutting down for the prosperous growth of the LINE blockchain and LINK token.
Events In The Lifetime Of Bitfront
Founded in February 2020, its aim was to store digital assets safely and enable free transactions. In less than 3 years, Bitfront’s performance has been dropping drastically.
The entire crypto market has faced a very tough year with the collapse of major cryptocurrencies. It started with the failure of the Terra sisters in the month of May. The collapse of Terra drained a lot of wealth from the market, forcing many firms to file for bankruptcy. After this, came the crumble of Three Capital Arrows. Lately to shake the cryptoverse is Sam Bankman-Fried’s multi-million dollar FTX, It filed for bankruptcy in the United States on 11 November 2022.
The Suspension Of Services
Bitfront has already suspended credit card services and new sign-ups from November 28. It will be further suspending additional payments and deposits by December 12. While interest for deposits will be paid from 5 to 11 December. Also, the additional forced withdrawal of interests and deposits of LN/LN products will be done by December 13. The ability to make withdrawals will be put to a stop on 31 March 2023.
Bitfront expressed gratitude and issued an apology to customers who used their services and had a voice in developing the platform.
The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
-
Business1 week ago
How Mid-Sized Treasurers Are Managing Liquidity Amid Uncertainty – Crypto News
-
others4 days ago
USD/CAD trades with negative bias around mid-1.3800s, just above two-week low – Crypto News
-
De-fi4 days ago
Bitcoin Hits $109,439 Ahead of 15th Anniversary of Laszlo Hanyecz’s 10,000 BTC Pizza Purchase – Crypto News
-
Business4 days ago
XRP ETF Odds Surge Amid CME Futures Growth: Can Approval Happen by June 17? – Crypto News
-
Blockchain1 week ago
Solana Poised For Upside Move After A Bounce From $168 – Crypto News
-
De-fi4 days ago
Bitcoin Hits $109,439 Ahead of 15th Anniversary of Laszlo Hanyecz’s 10,000 BTC Pizza Purchase – Crypto News
-
Technology4 days ago
Build your own PC with up to 60% off on CPUs, GPUs, and more: No cost EMI starting at ₹99 – Crypto News
-
Cryptocurrency1 week ago
Top crypto to buy as Saudi Central Bank reveals exposure to MSTR – Crypto News
-
others1 week ago
Kekius Maximus Token Jumps 119% as Elon Musk Changes X Profile – Crypto News
-
Blockchain2 days ago
Why Equity Markets Are Being Tokenized – Crypto News
-
Cryptocurrency1 week ago
‘MapleStory N’ Game Launches on Avalanche With Surging NXPC Token – Crypto News
-
Blockchain1 week ago
Stablecoin bill passes in Northern Marianas as House overrides veto – Crypto News
-
others1 week ago
Dogecoin On-Chain Metrics Hint At DOGE Mega Rally Ahead – Crypto News
-
Technology1 week ago
Is Apple Pay down? Users report widespread payment failures – Crypto News
-
Blockchain1 week ago
Bitfinex Bitcoin longs total $6.8B while shorts stand at $25M — Time for BTC to rally? – Crypto News
-
Technology1 week ago
Coinbase estimates $400M cost after data breach and crypto scam – Crypto News
-
Technology1 week ago
Infinix Note 50s 5G Review: Most balanced phone under ₹20,000 – Crypto News
-
Technology1 week ago
XRP Price Impact If GENIUS Act Boosts Ripple’s RLUSD Market Cap to 50% of Tether’s $150B – Crypto News
-
others7 days ago
Here’s Dogecoin Price Prediction if Saudi Arabia Central Bank Drives BTC to $250,000 – Crypto News
-
others4 days ago
Feds Charge Atlanta Man for Allegedly Applying for Over $3,390,000 in Fraudulent Small Business Loans During COVID – Crypto News
-
others4 days ago
Shiba Inu Price Surges as Whales Buy 530 Trillion SHIB – Breakout Imminent? – Crypto News
-
others1 week ago
Crypto Trader Prints 517x Profit on Solana-Based Altcoin That’s Exploded 7,000% in Just One Week: Lookonchain – Crypto News
-
others1 week ago
USD/INR climbs on renewed US Dollar demand – Crypto News
-
Blockchain1 week ago
90% of institutions ‘taking action’ on stablecoins: Fireblocks survey – Crypto News
-
Business1 week ago
XRP Futures ETF Goes Live on May 19: Will It Beat ETH And BTC Debut? – Crypto News
-
others1 week ago
XRP Futures ETF Goes Live on May 19: Will It Beat ETH And BTC Debut? – Crypto News
-
others1 week ago
US Senators Make Potential Progress on Stablecoin Bill Amid Partisan Negotiations: Report – Crypto News
-
De-fi1 week ago
President Trump Urges U.S. to Engage with Bitcoin as Wall Street and Trillion-Dollar Firms Show Interest – Crypto News
-
Business1 week ago
World Liberty Financial Partners Chainlink To Enable USD1 Stablecoin Cross-Chain Transfers – Crypto News
-
Blockchain1 week ago
Bitcoin Panic Buying? Eric Trump Says the World Is Stockpiling BTC – Crypto News
-
Cryptocurrency1 week ago
Ripple’s XRP may enable BRICS to ditch dollar and settle trade in gold – Crypto News
-
others1 week ago
FBI Issues New Scam Warning, Says Fraudsters Have Been Impersonating ‘Senior US Officials’ in Text and Voice Messages – Crypto News
-
Cryptocurrency1 week ago
Galaxy Digital secures Nasdaq listing after 4 years: ‘$GLXY’ – Crypto News
-
Technology1 week ago
Stablecoin Bill: GENIUS Act Heads For Cloture Vote on May 19 – Crypto News
-
others1 week ago
NZD/USD dips as cautious Fed tone and weak NZ backdrop pressure pair – Crypto News
-
Blockchain1 week ago
Solana Sees Renewed Demand As Capital Flows Turn Positive – Details – Crypto News
-
Cryptocurrency1 week ago
Cardano Price Down Again On Broader Market Decline. Here’s The Way Back Up – Crypto News
-
Technology1 week ago
Save big on smart TVs: Up to 70% off on top models from best selling brands like Samsung, Sony, LG and more – Crypto News
-
others1 week ago
Mexican peso trims some losses from Banxico interest-rate cut – Crypto News
-
Cryptocurrency1 week ago
UK confirms crypto tax data rules under CARF; first deadline set for May 2027 – Crypto News
-
others1 week ago
Dow Jones finds fresh weekly highs as investor sentiment holds firm – Crypto News
-
others1 week ago
How Blockchain Technology Is Revolutionizing Data Security Across Industries – Crypto News
-
others1 week ago
United States Baker Hughes US Oil Rig Count fell from previous 474 to 473 – Crypto News
-
Business1 week ago
XRP DeFi Milestone: Vaultro Launches First Decentralised Index Fund Dashboard on XRPL – Crypto News
-
Metaverse5 days ago
Mint Explainer: Microsoft envisions a web driven by AI agents. What will it look like? – Crypto News
-
Metaverse4 days ago
Indian companies lag in workforce upskilling amid AI disruption, job cuts – Crypto News
-
Technology4 days ago
Google supercharges Gemini with new AI features at I/O 2025: 13 Updates you should not miss – Crypto News
-
Cryptocurrency4 days ago
Bitcoin’s realized cap adds $3B – Here’s why BTC’s rally isn’t over – Crypto News
-
Business1 week ago
Bitcoin Price Forecast: BlackRock Leads $320M BTC Buying Spree as US ETF Flows hit $400B for 2025 – Crypto News
-
Technology1 week ago
XRP Price Cracks 5% After Kickbacks in Ripple-SEC Lawsuit, What’s Next? – Crypto News