Crypto exchange Bitfront announced on its site that it has closed operations. Bitfront is built on Line blockchain.
In the statement, Bitfront said: “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. Please note that this decision was made for the best interest of the Line blockchain ecosystem and is unrelated to recent issues related to certain exchanges that have been accused of misconduct.”
Bitfront was probably referring to the collapse of FTX (CRYPTO: FTT) and Alameda Research, leaving a shortfall of “at least $3.1 billion.” This is just the latest in networks and crypto exchanges that have …
Full story available on Benzinga.com