+0.34% Bitcoin (BTC) 99221 EUR
+1.07% Ethereum (ETH) 3877.63 EUR
+1.33% Litecoin (LTC) 98.67 EUR
+6.54% B-Cash (BCH) 544.06 EUR
+0.74% Ethereum (ETH) 0.0394405 BTC
+1.22% Litecoin (LTC) 0.00100394 BTC
+6.15% B-Cash (BCH) 0.00548026 BTC
-0.09% Bitcoin (BTC) 118256.7388 USDC
+0.46% USD Coin (USDC) 0.84 EUR
+1.75% Chainlink (LINK) 20.38 EUR
+1.39% Chainlink (LINK) 0.00020487 BTC
+3.83% Dogecoin (DOGE) 0.23 EUR
+3.46% Dogecoin (DOGE) 0.00000239 BTC
+2.65% Uniswap (UNI) 8.16 EUR
+2.39% Uniswap (UNI) 0.00008221 BTC
+2.87% Cardano (ADA) 0.77 EUR
+2.50% Cardano (ADA) 0.00000778 BTC
+1.25% Tron (TRX) 0.29 EUR
+1.02% Tron (TRX) 0.00000297 BTC
+2.41% Shiba Inu (SHIB) 0.00001143 EUR
-1.23% Zcash (ZEC) 43.29 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
+3.65% Arbitrum (ARB) 0.5163 USDC
+1.11% Chainlink (LINK) 23.82 USD
+1.26% Chainlink (LINK) 23.76457 USDC
+1.62% Uniswap (UNI) 9.511 USDC
+3.90% Ondo (ONDO) 0.88 EUR
+2.67% Ondo (ONDO) 1.04781 USDC
+4.87% Gala (GALA) 0.01 EUR
+4.46% Gala (GALA) 0.01779 USDC
+22.90% Wormhole Token (W) 0.09 EUR
+21.92% Wormhole Token (W) 0.1096 USDC
+2.61% Chiliz (CHZ) 0.03 EUR
+2.27% Chiliz (CHZ) 0.04276 USDC
+3.11% Sand (SAND) 0.26 EUR
+2.56% Sand (SAND) 0.3087 USDC
+2.33% Aave (AAVE) 258.06 EUR
+1.56% Aave (AAVE) 303.56 USDC
+5.56% Curve DAO (CRV) 0.65 EUR
+5.15% Curve DAO (CRV) 0.7716 USDC
+4.99% Immutable X (IMX) 0.64 EUR
+4.83% Immutable X (IMX) 0.7571 USDC
0.00% Skale (SKL) 0.07 USDC
+6.12% Beam (BEAM) 0 EUR
+3.43% Beam (BEAM) 0.00782 USDC
0.00% Axelar (AXL) 1.05 USDC
+3.25% Livepeer Token (LPT) 5.93 EUR
+2.67% Livepeer Token (LPT) 6.99 USDC
+3.82% Compound (COMP) 38.84 EUR
+3.04% Compound (COMP) 45.69 USDC
+0.21% Coti (COTI) 0.04 EUR
+0.92% Coti (COTI) 0.0544 USDC
0.00% Portal (PORTAL) 1.1 USDC
+4.40% Sushi (SUSHI) 0.68 EUR
+4.24% Sushi (SUSHI) 0.8106 USDC
+4.88% Pepe (PEPE) 0 EUR
+4.49% Pepe (PEPE) 0.0000114 USDC
+5.94% Optimism (OP) 0.68 EUR
0.00% Polygon (MATIC) 0.2 EUR
+5.34% Solana (SOL) 208.1 EUR
+4.99% Solana (SOL) 0.0021079 BTC
+2.38% Solana (SOL) 0.053414 ETH
+0.17% USD Coin (USDC) 0.73 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY
+100.00% USD Coin (USDC) 4.25 PLN
+100.00% USD Coin (USDC) 10.93 SEK

German crypto bank Nuri tells 500K users to withdraw funds ahead of shut down

10-19-2022

German crypto bank Nuri has told its 500,000 users to withdraw funds from their accounts as the firm prepares to shut down and liquidate the business, marking it as another victim of the 2022 bear market.

 

Nuri first reported liquidity issues in August, after announcing that it had filed for insolvency amid the economic strains of Crypto Winter. It said at the time that business would continue as usual, as it worked on a restructuring plan and securing a buyout, however an acquisition has failed to materialize.

 

In an Oct. 18 blog post, Nuri CEO Kristina Mayer noted that despite the company’s best efforts, it is unable to maintain its operations moving forward. Unlike bankrupt crypto lender Celsius which locked user withdrawals before everything went south, Nuri is encouraging users to withdraw all of their assets before the Dec. 18 deadline.

 

“Customers have access and will be able to withdraw all funds until the aforementioned date. All assets in your Nuri account are safe and unaffected by Nuri’s insolvency. Trading will be possible until 30/11/2022,” the post reads. Mayer explained that “this year, the challenges have become insuperable due to the tough economical and political environment of the past months, which kept us from raising new funds or finding an acquirer,” and added:

 

“On top, the insolvency of one of our main business partners worsened the situation significantly and put us over the edge. As a result, Nuri had to file for temporary insolvency in August this year.”

 

While Mayer didn’t specifically name its insolvent business partner, Celsius appears to be the prime candidate as it had partnered with Nuri to offer Bitcoin (BTC) interest accounts to its customers. These accounts were halted when Celsius went towards bankruptcy. Mayer also noted that the company is still bullish on the potential of blockchain-based financial services.

“We still believe in innovative financial technology and are convinced that blockchain, cryptocurrency and decentralized finance will offer opportunities that add true value to the lives of people. Still, financial innovation should be safe, understandable and easy to use for as many people as possible,” Mayer wrote.

 

Source: Cointelegraph