Decentralized platform announces closure and deadline for cryptocurrency withdrawal
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Answer Decentralized platform announces closure and deadline for cryptocurrency withdrawal
Decentralized trading platform announced cryptobridge Yesterday it will close its services on December 16th.
Among the reasons for the closure indicated to the platform:
Market conditions, increased regulation, and inability to fund further development and maintain operations.
Accordingly, deposits will close at 23:59 GMT today, December 3, and then all services will end at 23:59 GMT on December 15.
Therefore, if the deadline passes and the cryptocurrencies are not withdrawn from the platform, they are lost permanently.
Over the past 24 hours, the platform has traded about 11.8 bitcoins, which is equivalent to approximately $85,994.
For information, the American platform was established cryptobridge In 2017, the trading platform was built using the Bitshares platform script, which uses a high-speed blockchain.
Read:How does the BIS see banks dealing with cryptocurrency?
The platform relied on charging income from using the platform, and the CryptoBridge platform was also providing a “new digital asset listing allocation” service, a service that enables companies that own modern cryptocurrencies to pay a small fee, starting from 0.35 bitcoin, to make the platform promote their currency
But it was all in vain, as more than 126 cryptocurrencies were listed on the platform according to CoinMarketCap.com and only a few were known.
Taking a realistic look and looking at the platform numbers, we find that 26% of the trading volume on the platform was from the Soverain coin, which is currently ranked 1281 in terms of market capitalization.
And 12% of the original BridgeCoin token, which ranks 1,303 by market capitalization.
Darkness falls on CryptoBridge shortly after news last week that the CEO of cryptocurrency exchange IDAX has gone missing, taking in millions of dollars in cash.
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IDAX: Cryptocurrency deposits and withdrawals halted after CEO disappearance
The IDAX platform limits access to cold wallets and freezes withdrawal and deposit services.
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