Crypto bank Nuri urges customers to withdraw funds before it shuts down

Crypto bank Nuri urges customers to withdraw funds before it shuts down
фото показано с : invezz.com

2022-10-19 14:59

In cryptocurrency news today, crypto bank Nuri, which filed for temporary insolvency in August after a tough year made worse by the collapse of one its business partners and the failure to get an acquirer, is shutting down.

But before it does, the German-based crypto bank has asked its customers to withdraw their funds by December 18, 2022.

Nuri’s 400,000+ customers to withdraw funds 

Nuri, formerly Bitwala, launched its operations in 2015, and saw massive growth in the years that followed as more people looked to tap into the benefits of crypto banks.

Yet, as CEO Kristina Mayer noted in a letter to customers on Tuesday, the ‘insuperable’ challenges of the past year and the inability to secure a buyer have pushed it over the edge. 

There might be no coming back – and the plan is to ensure customers get back their assets.

The Nuri CEO noted:

“During the preliminary insolvency proceedings, we have worked very closely with our insolvency administrators on a restructuring plan in the past 3 months and tried to find a potential acquirer to continue our story. Unfortunately, we have not been able to find investors to continue our mission and have asked our customers to withdraw their funds by 18/12/2022 at the latest, so the business can be terminated and liquidated.”

The neo-bank has assured customers that they will continue to have access until the aforementioned date, and that customer assets are unaffected by its insolvency.

Despite the sad ending to the Nuri story, Mayer believes that blockchain and crypto are here to stay and that there are endless possibilities with this technology.

“We still believe in innovative financial technology and are convinced that Blockchain, cryptocurrency and decentralised finance will offer opportunities that add true value to the lives of people.”

Nuri’s announcement means the neo-bank’s 400,000+ users have the chance to get their money out, which, on the face of it, is unlike the scenario that recently greeted customers of several crypto lenders, including Celsius and Voyager Digital. The series of bankruptcy filings over the crypto winter came after most providers suspended customer withdrawals.

The post Crypto bank Nuri urges customers to withdraw funds before it shuts down appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0.0095806 (+7.58%)
Объем 24H $0
Изменеия 24h: 2.35 %, 7d: -7.78 %
Cегодня L: $0.0086651 - H: $0.0095806
Капитализация $183.154k Rank 1690
Доступно / Всего 19.117m EMD / 32m EMD

crypto down nuri bank one collapse made

Источник: invezz.com

crypto down → Результатов: 126


Bulgaria’s RGCoins Crypto Exchange Owner Gets Extracted to the US for ‘Organized Crime’

The owner of RGCoins, a Bulgarian crypto exchange, Rosen Yosifov, has recently been extradited to the United States. The exchange, which was considerably small compared to the major ones of the market, was heavily focused on local Eastern European clients, but it had to shut its doors recently. It looks like the company shutting down […]

2019-1-29 00:13


Altcoins Plunge as Bitcoin and Crypto Markets Drop Below Recently Established Support Levels

Over the past couple of weeks, the crypto markets have experienced a persisting bout of sideways trading that didn’t allow for any major price action in the altcoin markets. Today, however, the typical crypto volatility returned in full force, sending most major altcoins and Bitcoin down significantly over the past 24-hour trading period.

2019-1-29 00:00


Фото:

Bitcoin Price Struggles As Crypto Market Cap Nears $100 Billion Support

Bitcoin price fell 3 percent to lose support at $3500 January 28, abruptly ending a week in which volatility hit its lowest levels in over two months. Bitcoin Price Struggling Amid Low Volatility Data from Coinmarketcap showed the knock-on effect of Bitcoin (BTC) aiming downwards Monday, with altcoins in the top twenty cryptocurrencies by market cap repeating the losses.

2019-1-28 12:00


Фото:

Galaxy Digital Reportedly Raising $250M to Help Firms Survive Crypto Winter

The current market environment has caused several cryptocurrency companies such as exchanges, and miners to cancel growth plans, downsize their operations or even completely shut down. A massive new fund reportedly in the works is designed to help such struggling firms with much-needed finance until the situation improves and they return to profitability.

2019-1-25 23:41


US Agencies Top List of Law Enforcement Requests Sent to Crypto Exchanges

As the crypto industry grows, its increased use by both innocent cryptocurrency investors and malicious cyber criminals does as well. This has prompted government agencies and financial market regulators to take a deeper look at crypto transactions in order to track down potential criminal behavior in hopes of finding evidence that will lead to successful.

2019-1-19 23:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

IBC to Ethereum: Building the interconnected Internet of Blockchains

Since the advent of Bitcoin in 2009 and the explosion of innovation that followed, the web3 industry has faced many challenges. Beyond dealing with regulators, improving UX, and weeding out bad actors, blockchain engineers continue to tackle two major hurdles: scalability and interoperability.

Blockchain’s Disruptive Impact on Gaming

In our world today, blockchain technology is at the forefront of almost every innovation. A groundbreaking innovation itself, the blockchain was initially associated with cryptocurrencies but is rapidly disrupting other industries.

 BloFin Whales’ View: After Halving

A loose liquidity environment and new narrative outbreaks are the main determinants of the bull market after the Bitcoin halving. The high-interest rate environment may last longer than expected but will not end the bull run.

Worldcoin open-sources revamped biometric data system

Worldcoin Foundation has introduced a new system using Secure Multi-Party Computation (SMPC) for biometric template protection, developed with cryptography engineers from TACEO. The advancement has allowed the foundation to securely delete the previous iris code system.

Tether CEO Paolo Ardoino teases potential Pear Phone powered by P2P apps

Paolo Ardoino, the Chief Executive Officer of Tether and co-founder of peer-to-peer platform Holepunch, recently hinted at plans to potentially develop a “Pear Phone” in the future. In an X post, Ardoino floated the idea of building an Android-compatible phone based on the Android Open Source Project (AOSP).