Wyre announced its closure after a decade in business


San Francisco-based cryptocurrency payment provider Wyre has announced its closure after a decade in business. The company's management attributed the termination to prevailing market conditions.

According to an official statement, "Wyre is ceasing operations as a result of market constraints, with the best interests of customers in mind, and not at the direction of any governing body".

All customers can still withdraw their funds until July 14. After that date, another system will be put in place to refund any funds remaining on the platform.

The project team said those interested in acquiring Wyre's assets or its subsidiaries could contact 88 Partners to discuss an agreement.

There has long been talk that Wyre could close down. It was reported in the press that after the Bolt deal fell through in September, Wyre began looking for financial help. In January, they announced that they had secured additional funding and things were back to normal.

In May this year, Hotbit announced its closure after five years of operation and asked users to withdraw all of their remaining assets by June 21. Apparently, the decision to close was based on the poor operating conditions of the exchange itself.

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