Crypto Exchange Backed by Social Media Titan Line Shuts Down
- Bitfront says it ‘regretfully determined’ it needs to close
- Firm signaled the step is unrelated to the collapse of FTX
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Bitfront, a crypto exchange backed by Japan’s social media giant Line Corp., said it’s shutting down amid challenges in a “rapidly evolving” industry.
The company has “regretfully determined that we need to shut down Bitfront in order to continue growing the LINE blockchain ecosystem and LINK token economy,” it said in a statement on its website.