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German Crypto Exchange Nuri Files for Insolvency

Users are still able to access deposits, according to the exchange.

By Oliver Knight
AccessTimeIconAug 9, 2022 at 4:25 p.m. UTC
Updated May 11, 2023 at 4:16 p.m. UTC
Nuri filed for insolvency in a Berlin court. (Richard Klune/Getty Images)
Nuri filed for insolvency in a Berlin court. (Richard Klune/Getty Images)
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Cryptocurrency exchange Nuri GmbH has filed for insolvency in Berlin, according to a court filing.

  • The platform, previously called Bitwala, was founded in 2015.
  • Nuri said the sell-off in the crypto market coupled with the collapse of Celsius Network ultimately led to the decision.
  • The price of bitcoin (BTC) has fallen from $69,000 to as low as $17,000 over the past nine months, with several key companies in the industry struggling to keep afloat. Bitcoin was recently trading around $23,000.
  • Singapore-based hedge fund Three Arrows Capital filed for bankruptcy in July while Celsius and Voyager Digital experienced similar outcomes.
  • Nuri has said its users can still access deposits, Reuters reported.
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    Oliver Knight
    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

    Follow @OKnightCrypto on Twitter

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