Line Messenger Closes Its Bitfront Crypto Exchange
The Line company, the operator of the messenger of the same name, announced the termination of the Bitfront crypto exchange affiliated with it from March 31, 2023. The development team explained their decision by crypto winter and other factors in the industry. The collapse of FTX had no effect.
Starting November 28, the platform will suspend registration of new accounts and credit card payments. By mid-December, it is planned to suspend additional deposits and interest payments on LN interest products. By the end of December, Bitfront will stop all deposits in cryptocurrencies and fiat. Trading will be frozen and open orders will be cancelled.
A full suspension of withdrawals is scheduled for March 31, 2023. In the future, customers will be able to submit a corresponding request in various jurisdictions of the United States.