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3 weeks ago

Blockport, a Dutch Crypto Exchange, ceases operation and Vows to Return

Blockport is a cryptocurrency exchange based in the Netherlands. According to a filing reported by The Next Web, the official operating entity, Blockport BV, was declared bankrupt in a court in Amsterdam on May 21.

Recent news following their bankruptcy declaration has it that the exchange has been forced to close due to a lack of operating capital. Interestingly, this is not a shutdown of defeat as they vowed to come back. The platform officially ceased services at the end of May, and made the corresponding announcement in a blog post; its website is however still up and running as of now.

The co-founder and chief product officer Sebastiaan Lichter said via the blog post that “we have decided to drastically scale down our operations and development.” This was after the exchange’s security token offering failed; it had a €1 million ($1.12 million) soft cap. Their customers were given prior notice to withdraw any remaining funds. They can still withdraw by emailing support as the post stated

In Lichter’s words: “Running our operations and platform as-is without a substantial investment is currently not an economically viable and responsible option. “The exchange has acknowledged it cannot generate sufficient revenues and this has changed their focus to “expanding the platform with unique and value-adding technological features, that strengthen our business case for a potential future restart.”

Lichter said as well that this would not affect its efforts to prepare for a “restart” of the platform.

In addition, he said:

“We still see a lot of opportunities in this industry and have built a top performing trading platform that many people love to use and which has had almost zero downtime or issues since we launched it in the summer of 2018.”

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Credits- Daniel Palmer

Anita O.

Lover of tech and blockchain.

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