Today January 28, 2019, Liqui has posted an official announcement that it will be closing down because it cannot continue providing the required services to its users. According to the announcement, users have 30 days from today to withdraw all their assets as all accounts will be shut down after that time.
“Recently, we were happy to announce the change in our policies. We gave you the right to decide whether you want to be with us in our Crypto Exchange journey by accepting the changes. 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.”
The Team Mourns
It is a very sad moment for Liqui as is clear from their closing remark in the post “Every ending is a new beginning. Through the grace of God, we can always start again”. The company had earlier announced a change in its policies which were also related to the current issue and asked its users to decide to stay or leave on the basis of the changes.
However this time things have gotten out of hand and the exchange is finally folding up. Although not certain when the company is hoping to bounce back on its feet as soon as there is light at the end of the tunnel.
Could worse becoming?
Could Liqui’s shutdown be due to the long-standing bear market which has held cryptocurrencies down since 2018? The notice states that the return of the exchange will depend on the state of the market that has been on a free fall since 2017.
Apparently, if the market conditions endure, we will be having more shutdowns in the nearest future and the only way out is for the key players in the industry to do what it needs to in order to bring the industry back to its normal state.
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A cryptocurrency enthusiast, author, and investor with high motivation in cryptocurrency/blockchain research and writing. He loves birdwatching and traveling. Follow him on Twitter at @Ponvangbu