year 2022 cryptocurrencies In this context, the collapses that started with Terra (LUNA) in May 2022 continued until the bankruptcy of FTX and Genesis.
Bitcoin (BTC) And although cryptocurrencies make a good start to 2023, the effects of the crypto winter in 2022 are still visible.
In this context, the latest victim of the crypto winter is peer-to-peer bitcoin trading platform localBitcoins it happened.
Serving for over 10 years localBitcoins announced that it would be closed due to the inability to cope with the bear market that shook the industry.
“Originally LocalBitcoins was created to bring Bitcoin everywhere and enable global financial inclusion.
We have honored this mission for over 10 years and are proud of what we have accomplished together with all of you, our loyal community.
However, we regret to share that despite our efforts to overcome the challenges during the ongoing very cold crypto winter, we have come to the conclusion that LocalBitcoins can no longer provide the Bitcoin trading service.
We urge all customers to withdraw their funds from LocalBitcoins. You have 12 months to withdraw, but of course we recommend that you continue to withdraw before.”
LocalBitcoins also shared a timeline of withdrawals in the continuation of its statement.
“Timeline for ending bitcoin trading service:
09.02.2023: Suspension of new registrations
02/16/2023: Suspension of trading and wallet usage on LocalBitcoins
17.02.2023: LocalBitcoins customers will only be able to log in to withdraw their Bitcoins. “
In this context, users will only be able to log in to the platform to withdraw their cryptocurrencies after February 16.
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