Share this article
Romanian Bitcoin Exchange Shuts Down
Romanian bitcoin exchange BTCXchange has officially closed down.
By Pete Rizzo
Updated Sep 11, 2021, 12:29 p.m. Published Sep 14, 2016, 10:51 a.m.
Make us preferred on Google
Romania's first order-book exchange is closing down.
Statements on the BTCXchange website informed users of a possible sale of the service on 18th August, and on 4th September, users were asked to withdraw funds ahead of an expected 12th September shut down.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to Romanian news source Bihon, it remains unclear whether the exchange, the first of its kind in Romania, is still for sale. Owners originally said they would accept offers on the platform through 16th September.
In past statements, owner Horea Vuscan expressed his hope the exchange would be acquired as he said it was "highly profitable", though he expressed reservations about continuing in the face of the Bitfinex hack and continued worries about the security of bitcoin exchanges.
Vuscan wrote:
"I believe that Romania needs a local exchange but I want to retire in this area of business. In conclusion, in respect of clients and community BTCXchange announce that is for sale."
The decision marks the second time the bitcoin exchange has shut its doors, following a service stoppage in late 2014. However, it's unlikely many customers will be affected by the decision.
Data shows trading volumes on the exchange were low prior to its closure, with the exchange seeing just 19,000 RON (roughly $48,000) in trades over the last seven days.
Typewriter image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin holds $84,000 — for now — but analysts warn of drop to $70,000 if support fails
Thursday's decline showed that, despite hopes for being a macro hedge, bitcoin continues to trade like the riskiest of risk assets when markets turn lower.
What to know:
- Bitcoin slumped Thursday to its weakest price since November, as crypto markets sold off sharply.
- The decline was triggered by major U.S. morning declines in gold and stocks, but while those markets rebounded far from their worst levels, crypto saw no such bounce, underscoring the sector’s relative weakness.
- Analysts say a breakdown to as low as $70,000 for BTC is in the cards.
Top Stories
