Crypto Staking Platform Freeway Ceases Withdrawal Services

• Freeway’s native token, FWT, plummeted by more than 77%.
• German crypto bank Nuri informed its 500,000 customers to withdraw their assets.

The crypto sector has been shaken to its foundation by the present bear market. Freeway, a lesser-known crypto-staking platform, is the latest to cease withdrawal services due to recent market volatility in both fiat money and cryptocurrencies.

The firm stated:

“Freeway has therefore decided to diversify its asset base to manage exposure to future market fluctuations and volatility ensuring the long-term sustainability and profitability of the Freeway Ecosystem. This will allow Freeway to maintain the highest level of Supercharger simulation rewards.”

Yet Another Goes Down

With a market worth of just over $17 million, Freeway’s native token, FWT, plummeted by more than 77% after the official release. Whistleblower FatMan Terra claims that the staking platform’s website admin is now working to conceal the identities of the project’s developers.

Moreover, he said that although everyone on the squad is real, some of the claims made about them are “highly embellished.” Experts believe the present market turmoil will help pick out businesses with excessive debt, poor risk management, or engaging in fraudulent activities.

Three Arrows Capital (3AC), Celsius, and Voyager Digital are just a few of the projects that the bear market has wiped out since Terra imploded in the third quarter of this year. On the eve of its closure and liquidation last week, famous German cryptocurrency bank Nuri informed its 500,000 customers to withdraw their assets.

Despite the firm’s “best efforts,” CEO Kristina Mayer said that the company would be unable to continue operations. Unlike Celsius, which halted withdrawals before things went south, Nuri urged its members to get rid of all their assets by the 18th of December or face losing them forever.

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