NOVEMBER 28 (Reuters) – US-based cryptocurrency exchange Bitfront, backed by Japanese social networking site LINE Corp, has announced a new loan despite efforts to overcome rapidly changing challenges. It has suspended card registrations and payments and announced it will cease operations in the coming months. industry.
“However, despite our efforts, unfortunately, we have decided that in order to continue growing the LINE blockchain ecosystem and the LINK token economy, we have decided that Bitfront needs to close on Sunday.
FTX, once one of the world’s largest cryptocurrency exchanges, is now under investigation by the authorities for “criminal activity”.
The company filed for bankruptcy earlier this month, and cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection on Monday, taking a hit from the FTX collapse.
Bitfront has stated that it will stop accepting new registrations and credit card payments from November 28 and will stop withdrawing funds from March 31, 2023.