Coinspeaker
LINE-Backed Bitfront Exchange to Close Shop
Bitfront, a digital currency trading platform that is backed by the LINE Messaging platform has announced plans to unwind its operations. The company said the current outlook of the crypto industry which has continued to evolve in unpredicted ways has contributed to its decision to close shop.
“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 exchange said in its issued statement.
The digital currency ecosystem has been seeing quite a lot of company collapse over the past 11 months with top players like Celsius Network, BlockFi, Zipmex, and Voyager Digital going bankrupt. The latest bankruptcy of FTX Derivatives Exchange has further fueled a contagion that many believe will spill to other smaller players as the bankruptcy proceedings take shap
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