Crypto Opinions & News Japan's LINE Kills it's Crypto Exchange Bitfront

[upnorth]

Content source

https://www.theregister.com/2022/11/29/line_kills_off_its_crypto/

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 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. The company said that despite its efforts to overcome challenges in a rapidly evolving industry, shutting the business segment was necessary to "continue growing the Line blockchain ecosystem and Link token economy." Line clarified that the decision was made in "the best interest of the Line blockchain ecosystem" and is completely unrelated to any cases of crypto "misconduct."

Line kills off its crypto exchange, recenters on blockchain

Decision is unrelated to recent crypto crashes, presages pivot to some kind of tokenised chat

www.theregister.com

 

[show-Zi]

Recently, I have the impression that LINE is a messaging app for companies and stores. There are too many ads anyway.

I think I lost sight of my original role in trying to do various things. Young people, who were the core of the user base, moved to Instagram and Tiktok, which have clear usage purposes.