The decentralized CryptoBridge cryptocurrency exchange, headquartered in the United States, closes its operations, citing several reasons, including “increased regulation”.
Closing of the CryptoBridge exchange
A message on the exchange’s website said that the “difficult” decision to close was made due to increased market regulation, the inability to finance further development and support the exchange’s operations.
The exchange said its goal was to provide access to decentralized cryptocurrency tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details and “did everything possible” to save itself from collapse, but CryptoBridge was unable to succeed.
All deposits close on December 3rd, and withdrawals on December 15th, CryptoBridge reports, adding that during this time all users must withdraw their funds.
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Cryptocurrency news reported that in October about 320,000 people visited the CryptoBridge exchange, most of them from Russia and Bulgaria, according to the SimilarWeb analytic firm.