German Crypto Exchange Nuri Files for Insolvency

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

AccessTimeIconAug 9, 2022 at 4:25 p.m. UTC
Updated May 11, 2023 at 4:16 p.m. UTC

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.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

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

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about