Freeway, a crypto venue, has stopped a few services and cited the recently heightened volatility across the foreign exchange as well as the crypto markets to be the cause of this.
A post was shared by the venue in which it mentioned that they are closing the deposits and purchases and will stop purchasing Supercharger simulations till the implementation of their latest plans.
Crypto Company Freeway Shuts down Its Services While Referring to High Volatility
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As per the online platform of Freeway, the firm’s Superchargers product can provide nearly 43% yield rewards yearly. Customers can deposit in crypto and traditional currencies existing in the brokerage accounts with proper regulation.
Freeway, known as a centralized venue, promotes itself being a venue that combines the finest of decentralized finance (DeFi) as well as the finest of traditional finance.
The company has not offered any particular details regarding the latest plans, however, it declared in its declaration to have a strategy to diversify the asset base along with managing the exposure to volatility and fluctuation around the market. As per the consumers, the meaning of this move is not clear nonetheless, the post notes at its end to offer updates shortly.
It added that Freeway will inform its clients when it is prepared for another time to restart the halted services. The news regarding the stoppage of these services has resulted in a decline of up to seventy-five percent in the local token FWT’s value in the previous twenty-four hours, as per CoinGecko.
At the time of the rest of the high-profile matters regarding the crypto exchanges and companies, the consumers have been showing apprehensions on the Telegram and social media groups of Freeway. It is at present not clear whether Freeway would permit withdrawals or would follow the rest of the high-profile crypto venues to have a permanent closure.
The Firm Intends to Restart the Services for the Users Shortly
Up till now, a separate Freeway admin/moderator has been providing advisory services to the consumers to fill support tickets and mentioned that they have nothing to say till the coming formal communications.
The entire team is operating well intending to resume the closed services of purchasing Supercharger simulation, firstly on a partial basis while broadening them to a full scale afterward, as added by the moderator.
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