Hong Kong’s Bitspark suddenly closes due to internal restructuring issues and Corona outbreak
Bitspark, the Hong Kong-based blockchain remittance startup, has suddenly announced to shut down, due to internal restructuring issues. Bitspark co-founder and CEO, George Harrap, has officially announced plans to close the service on March 4, 2020.
Accordingly, Bitspark users will be able to withdraw their cryptocurrencies from February 3 to March 4. After March 4, account login information will be disabled for 90 days. During this period, users can withdraw money through Bitspark’s customer support.
The abrupt shutdown despite the amazing 400% performance that Bitspark has seen since the launch of the new remittance service in 2019. The situation comes a month after co-founder Maxine Ryan announced his intention to step down as CEO. This decision has caused internal restructuring problems associated with coronavirus outbreak in China. Like anti-government protests in Hong Kong, Bitspark had to make a decision to close.
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