Liqui Exchange to Cease Operations

Users have 30 days to get their money back; after there's no guarantee on site availability
28 January 2019   563

Liqui announced on Monday, January 28, the cessation of activities due to the inability to provide liquidity and the lack of further economic sense in their work.

The corresponding statement is posted on the main page of the exchange.

According to representatives of the project, the company has previously changed the rules of service, allowing users to decide whether to continue to use its services.

Much to our regret, after this step Liqui is no longer able to provide liquidity for the Users left. We also do not see any economic point in providing you with our services. However, we do not want to return to where we were a month ago. Hence, we decided to close all accounts and stop providing our services. It broke our hearts to do that.

Liqui Exchange

Users are given 30 days to withdraw funds, after which the exchange can not guarantee that it will continue to serve the site.

After 30 days we cannot guarantee that we will be maintaining our website. In this case, all withdrawals will be processed through our support until the last user store his assets with us. Note that our Terms of Use will apply until you have your more than zero balance in our wallets. If we do not provide services we cannot store your assets for free, so the fee will apply if you fail to withdraw in accordance with our Terms of Use.

Liqui Exchange

It is also noted that users who leave their assets on the exchange will be charged a daily fee.

At the same time, Liqui says it can “return,” but this will depend on market conditions.

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   65

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.