Crypto-payment platform Wyre announces closure after ten years of operation. The company’s management explained its decision by tough market conditions.
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Cryptocurrency platform Wyre announces self-liquidation
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“After nearly a decade, Wyre is leaving.. We made this decision due to market conditions in order to protect the interests of our customers. The decision is not related to the instructions of any regulatory authority. Wyre continues to protect customers’ assets,” the official announcement said.
Digital asset infrastructure provider assures users can withdraw their assets from the platform until July 14. After that period, customers will have to use other ways to access their funds.
Rumors of Wyre going out of business have been around for a while. The media reported that the company was looking for financing after the September sale deal with Bolt broke down;
In January, Wyre said it was able to secure additional financing that would allow it to continue operating as normal.
In May, cryptocurrency exchange Hotbit announced its closure after five years of operation and asked users to withdraw their remaining assets by June 21. The company explained that to a large extent the decision to close was influenced by the deteriorating conditions of the stock exchange itself.