Share this article
Crypto Staking Platform Freeway Halts Withdrawals, Citing Market Volatility
The small-cap platform that promised users up to 43% in annual awards puts the brakes on withdrawals and scrubs its team from the site.
By Sam Reynolds
Updated Oct 24, 2022, 3:17 p.m. Published Oct 24, 2022, 2:30 a.m.
Freeway, a crypto staking platform, announced late Sunday it had paused withdrawal services, citing volatility in the crypto and forex markets and sending its token into a free fall.
- The freeway (FWT) token is down roughly 80% in the hours since the announcement.
- Freeway was not a significant or well-known project, with a market cap of less than $70 million before the crash and now $10 million at current trading prices.
- Freeway claimed it had $160 million in total value locked via a figure published on its website.
- On-chain data suggests that the majority of the largest of the 4,342 token holders received it during an airdrop and were otherwise idle.
- The largest whales on the platform lost just over $16,500, using pricing data from just before Sunday's market crash.
- As noted by Twitter personality FatManTerra, the administrator of the Freeway website is in the process of deleting team names.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Fidelity's Jurrien Timmer: Expect lame 2026 as four-year bitcoin cycle appears intact
The director of global macro at the asset management giant remains a secular bull on bitcoin, but isn't optimistic about the next year.
What to know:
- A number of notable market analysts of late have dismissed the idea of bitcoin's four-year cycle and the nearly certain bear market that might imply.
- Fidelity's Jurrien Timmer, however, says the action so far this time around lines up about perfectly with past four-year cycles and the current bearish action should last deep into 2026.
Top Stories
