.LINE_Global's Bitfront exchange will shut down, with customers being allowed to withdraw funds before March 31. Reporting by OKnightCrypto
"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," the announcement read.
New sign-ups and credit card deposits will be halted immediately, while customers will have until March 31 to withdraw funds. Bitfront is one of several crypto companies that has been forced to cease operations during the year-long cryptocurrency bear market. FTX filed for bankruptcy earlier this month following a liquidity squeeze that spawned out of a 75% corrective phase in the crypto market. Bitcoin is currently trading at $16,400 down from $69,000 this time last year.
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