According to reports and a filing that shows its name struck off the U.K. companies’ register list, Blockchain.com is sunsetting its Blockchain.com Asset Management subsidiary. A company spokesperson ...
Tag: Shutters
Blockchain.com Shutters Crypto Asset Management Arm Less Than 1 Year After It Launched
Blockchain.com has announced the suspension of its asset management arm due to the prolonged crypto winter, as reported by Bloomberg. The company cites the challenging market conditions as the reason ...
Silvergate Shutters in Latest Blow to Crypto
The collapse of Silvergate Bank is dragging down bitcoin volume. CryptoQuant data shows that transfer volume, denominated in BTC, is down 35% over the last 24 hours. At the same time, the total number...
Silvergate Bank Shutters SEN Network to Reduce Risk
Silvergate Capital has shuttered its Silvergate Exchange Network (SEN) as a “risk-based” decision following a second downgrade by rating agency Moody’s. The firm added that its deposit services remain...
Crypto Hedge Fund Galois Capital Shutters Flagship Fund, CEO Confirms
Crypto hedge fund Galois Capital has confirmed that it’s closing doors on it’s flagship fund after continued emerging reports surrounding the fund’s exposure to FTX. Galois joins the ranks of BlockFi,...
Nexo shutters US Earn product a month after settling with regulators
Cryptocurrency lending firm Nexo Capital is set to terminate its yield-bearing Earn Interest roduct for its customers in the United States roughly a month after it agreed to pay $45 million in penalti...
LocalBitcoins Shutters Services Citing Harsh Crypto Winter
The p2p Bitcoin exchange has given users 12 months to withdraw their assets. LocalBitcoins, a Bitcoin peer-to-peer (p2p) platform based in Finland, is shutting its doors after over a decade of serving...
Crypto Exchange Woes Continue: Kraken Reportedly Shutters Regional Headquarters As Bittrex Lays Off 83 Employees
A new report finds that crypto exchanges Kraken and Bittrex are downsizing amid the continued turmoil in the digital asset space. Bloomberg reports that San Francisco-based Kraken shuts down its Abu D...
Solana-based Everlend shutters operations amid shrinking lending market
Decentralized finance (DeFi) lender Everlend Finance shut down its operations on Feb. 1, citing the liquidity crunch in the lending market. The Solana-based protocol said that it decided to close its ...
Kraken shutters Abu Dhabi office a year after gaining license
US-based crypto exchange Kraken is shuttering its Abu Dhabi office as part of its ongoing global cost-cutting measures, reports Bloomberg. The move means that transactions in Dirham, the country’s off...
JPMorgan Chase shutters student financial aid website Frank
Dimon said in June that he was preparing the bank for an economic “hurricane” caused by the Federal Reserve and Russia’s war in Ukraine. Al Drago | Bloomberg | Getty Images JPMorgan ...
Cardano stablecoin shutters following launch delays
On November 24, Ardana, a renowned decentralized finance (DeFi) and stablecoin ecosystem that was built on Cardano (ADA), abruptly halted development. They justified their choice by saying that there ...
Crypto hedge fund Arca shutters TerraUSD-exposed fund
Crypto hedge fund Arca shut down its $20 million Digital Yield Fund due to the current downturn in the market. The fund, which opened in September 2021, had exposure to TerraUSD but a source tol...
UK High Court shutters crypto firm PGI Global for alleged scam involvement
Popular cryptocurrency trading firm PGI Global UK has been closed down by a high court in the United Kingdom, according to a press release issued by U.K. authorities, The court issued the directive f...
Berlin Bitcoin Neobank Nuri Shutters Business, Warns Clients to Withdraw Funds
Berlin-based neobank Nuri has officially closed down the shop, citing “insuperable” challenges, which kept the firm from raising new funds or finding an acquirer. Formerly known as Bitwala, Nuri filed...
ePayments shutters as FCA Anti-Money Laundering regulations tighten
The electronic payments provider ePayments is putting the final nail in the coffin of its operations. ePayments issued email notices to clients on Tuesday, stating that it is officially closing its bu...
Snap Inc. Shutters Web3 Division Amidst Axes.
Snap Inc. is going to reduce the size of employees by approx 20%. Growing interest rates is one of the main points for the reduction. On Friday, the Chief Executive Officer of Snap Inc, Evan Speigel, ...
Snapchat’s parent company shutters Web3 division amid layoffs
Snap Inc’s CEO Evan Speigel announced in a note on Friday that the company had made the difficult decision to reduce the size of its workforce by approximately 20%. The note said that this roun...
Cathie Wood’s Ark Shutters Transparency ETF in First Closure
(Bloomberg) — Cathie Wood is closing down one of her exchange-traded funds, the first time her Ark Investment Management has pulled the plug on an ETF. Most Read from Bloomberg The St. Petersbur...
Wikimedia Foundation shutters BitPay account halting crypto donations
The Wikimedia Foundation, which backs Wikipedia, will shut down its BitPay account and has announced it will stop accepting cryptocurrency donations based on community feedback. The decision to end cr...
Chicago Shutters Schools For 2nd Day Amid Covid-Driven Standoff With Teachers’ Union
Topline Chicago Public Schools canceled all in-person and remote classes Thursday, shutting down the nation’s third-largest school district for a second day amid a stalemate between city officials and...