Line made it clear that the FTX scandal had nothing to do with their move.
Bitfront will shut down its services somewhere in December.
In order to devote more resources to its other blockchain endeavors, Japanese company Line has decided to close its U.S. exchange Bitfront around the upcoming New Year. The messaging platform announced in an email to users that it would no longer be accepting new signups as of today and would be gradually shutting down over the course of the following four months.
Focus on Other Endeavors
The decision was made, according to Line, which also operates the LINE blockchain system and the Link (LN) token.
According to the announcement:
“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,”
Moreover, Line made it clear that the FTX scandal, which has caused some customers to l
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