{"id":19520,"date":"2022-11-29T08:08:06","date_gmt":"2022-11-29T08:08:06","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/29\/line-kills-off-its-crypto-exchange-recenters-on-blockchain-the-register\/"},"modified":"2022-11-29T08:08:06","modified_gmt":"2022-11-29T08:08:06","slug":"line-kills-off-its-crypto-exchange-recenters-on-blockchain-the-register","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/29\/line-kills-off-its-crypto-exchange-recenters-on-blockchain-the-register\/","title":{"rendered":"Line kills off its crypto exchange, recenters on blockchain \u2022 The Register"},"content":{"rendered":"<p> <a href=\"https:\/\/go.fiverr.com\/visit\/?bta=1052423&nci=17043\" Target=\"_Top\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" src=\"https:\/\/fiverr.ck-cdn.com\/tn\/serve\/?cid=40081059\" loading=\"lazy\"  width=\"601\" height=\"201\"><\/a>\n<\/p>\n<div id=\"body\">\n<p>Popular Japanese messaging app Line on Monday announced the closure of its US cryptocurrency exchange business, Bitfront, citing an increased focus on blockchain-related business.<\/p>\n<p>As of Monday, new signups and credit card payments on Bitfront were suspended, trading will be halted on December 30, and withdrawals will be allowed until March 31, 2023.<\/p>\n<p>The company <a target=\"_blank\" href=\"https:\/\/www.bitfront.me\/notice\/20208406\" rel=\"noopener\">said<\/a> that despite its efforts to overcome challenges in a rapidly evolving industry, shutting the business segment was necessary to &#8220;continue growing the Line blockchain ecosystem and Link token economy.&#8221;<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"condor\" data-xsm=\",fluid,mpu,\" data-sm=\",fluid,mpu,\" data-md=\",fluid,mpu,\">\n        <noscript><br \/>\n            <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_software\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=2&amp;c=2Y4W95uasj07BDJKz8R7gBgAAAFM&amp;t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0\" target=\"_blank\" rel=\"noopener\"><br \/>\n                <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_software\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=2&amp;c=2Y4W95uasj07BDJKz8R7gBgAAAFM&amp;t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0\" loading=\"lazy\" alt=\"\"\/><br \/>\n            <\/a><br \/>\n        <\/noscript>\n    <\/div>\n<p>Line clarified that the decision was made in &#8220;the best interest of the Line blockchain ecosystem&#8221; and is completely unrelated to any cases of crypto &#8220;misconduct.&#8221;<\/p>\n<p>The crypto market has been wildly unstable since the <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2022\/05\/17\/terrausd_luna_crash\/\" rel=\"noopener\">crash<\/a> of Terraform Lab&#8217;s so-called stablecoin TerraUSD this past May.<\/p>\n<p>The value of prominent cryptocurrencies has plunged, helped by the <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2022\/11\/15\/ftx_collapse_cryptocurrency\/\" rel=\"noopener\">swift and savage collapse<\/a> of cryptocurrency exchange FTX, and the <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2022\/11\/28\/block_fi_seeks_bankruptcy_protection\/\" rel=\"noopener\">bankruptcy<\/a> of crypto lending firms like Block Fi.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"falcon\" data-xmd=\",fluid,mpu,leaderboard,\" data-lg=\",fluid,mpu,leaderboard,\" data-xlg=\",fluid,billboard,superleaderboard,mpu,leaderboard,\" data-xxlg=\",fluid,billboard,superleaderboard,brandwidth,brandimpact,leaderboard,mpu,\">\n            <noscript><br \/>\n                <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_software\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44Y4W95uasj07BDJKz8R7gBgAAAFM&amp;t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"><br \/>\n                    <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_software\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44Y4W95uasj07BDJKz8R7gBgAAAFM&amp;t=ct%3Dns%26unitnum%3D426raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" loading=\"lazy\" alt=\"\"\/><br \/>\n                <\/a><br \/>\n            <\/noscript>\n        <\/div>\n<p>US-based Bitfront originally launched in 2018 in Singapore as Bitbox, before moving stateside in 2020.<\/p>\n<p>The operation supported trading of cryptocurrencies including Bitcoin, Ethereum and its homemade native blockchain and token, Link, in US dollars globally with exceptions in some jurisdictions. The company had voluntarily <a target=\"_blank\" href=\"https:\/\/en.yna.co.kr\/view\/AEN20210817001200320\" rel=\"noopener\">left<\/a> South Korea in September 2021 due to the country&#8217;s tightening of regulations.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"falcon\" data-xsm=\",fluid,mpu,\" data-sm=\",fluid,mpu,\" data-md=\",fluid,mpu,\">\n            <noscript><br \/>\n                <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_software\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44Y4W95uasj07BDJKz8R7gBgAAAFM&amp;t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"><br \/>\n                    <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_software\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44Y4W95uasj07BDJKz8R7gBgAAAFM&amp;t=ct%3Dns%26unitnum%3D426raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" loading=\"lazy\" alt=\"\"\/><br \/>\n                <\/a><br \/>\n            <\/noscript>\n        <\/div>\n<p>Line&#8217;s other blockchain ambitions, as outlined in a <a target=\"_blank\" href=\"https:\/\/blockchain.line.me\/whitepaper\/\" rel=\"noopener\">white paper\/a&gt; aim to create &#8220;a platform for a wide range of Line services and accelerate the Line Token Economy.&#8221;<\/a><\/p>\n<p>\n  <a target=\"_blank\" href=\"https:\/\/blockchain.line.me\/whitepaper\/\" rel=\"noopener\">&#8220;In short, Line is building a service-oriented blockchain ecosystem around Link, where anyone can use Line\u2019s services, conveniently and securely, in a token economy that will grow together with our users,\u201d said Line. \u00ae<\/a>\n<\/p>\n<\/p><\/div>\n<iframe data-lazy=\"true\" data-src=\"https:\/\/www.fiverr.com\/gig_widgets?id=U2FsdGVkX18x7XQvttUTrv1oEqmGNGTgvvCUiUoJ\/AP4z\/UyMz8lXGOLpu15jIMxBbTR0gmD5uBoFvhC4KWeALQRp3h\/X\/AwcVD0K8Wj9H\/ZzYKzcCNHosB9oS4SCJJFWiN85P9ICAc4OgCoE\/wHKIY7CDkf2\/DQ1vqGvk4smVe5cRDEmrLPCWi4FC8p40VUhSmWQ5udCm0zoJtorgWv3vbDQw0kKYkwn39ozAnQXDe+YvWMxkLFWA+O3TFwkJvdkIK+\/AUSnRssPKt5WHY0FhNOxnSPcLslEL4G4\/RfP95ve99U+kRnDy3X+KtzdQLY+u935ghON\/o3UE4IMv9oN6JX9RnxzL\/LRcOgnHigxStSGPKsZYtnz8RWNVT\/rOLAibqiWJadC5MYHRbekF3eg6FOGrQGkXYbsn0+a5aovnlLCbLwIqY9fcS17UX8J235iQ6cdmHNbrPeS84CMm34RA==&affiliate_id=1052423&strip_google_tagmanager=true\" loading=\"lazy\" data-with-title=\"true\" class=\"fiverr_nga_frame\" frameborder=\"0\" height=\"350\" width=\"100%\" referrerpolicy=\"no-referrer-when-downgrade\" data-mode=\"random_gigs\" onload=\" var frame = this; var script = document.createElement('script'); script.addEventListener('load', function() { window.FW_SDK.register(frame); }); script.setAttribute('src', 'https:\/\/www.fiverr.com\/gig_widgets\/sdk'); document.body.appendChild(script); \" ><\/iframe>\n<br \/><a href=\"https:\/\/go.theregister.com\/feed\/www.theregister.com\/2022\/11\/29\/line_kills_off_its_crypto\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Popular Japanese messaging app Line on Monday announced the closure of its US cryptocurrency exchange business, Bitfront, citing an increased focus on blockchain-related business. As&#8230;<\/p>\n","protected":false},"author":1,"featured_media":19521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-19520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-universe"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Line kills off its crypto exchange, recenters on blockchain \u2022 The Register - mailinvest.blog<\/title>\n<meta name=\"description\" content=\"Technology is forever changing, and there are always new pieces of technology to replace obsolete ones. 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