Line shuts down crypto exchange to focus on blockchain and LN token
The Japanese messaging giant will still continue to support its Line blockchain ecosystem and the Link token despite the ongoing industry challenges. The Japanese messaging giant Line has decided to shut down its cryptocurrency exchange business amid the ongoing crypto winter. Line-owned crypto exchange Bitfront officially announced on Nov. 27 a plan to completely close down the platform by March 2023. According to the statement, the closure was driven by the continued cryptocurrency bear market and other issues in the crypto industry. Despite the exchange ’s closure, Line will still continue to run its other blockchain ventures, including the Line blockchain ecosystem and Link (LN) token , the announcement notes, stating: “Despite our efforts to overcome the challenges in this rapidly-evolving industry, we have regretfully determined that we need to shut down Bitfront in order to continue growing the Line blockchain ecosystem and Link token economy.” Bitfront also emphasized tha...