Yet another bitcoin stock exchange is about to bite the dust.
BitFunder has announced it is closing down.
The site, which launched in December 2012 and held around $16m in assets in July, will cease trading on 14th November and transfer out any leftover bitcoins held by users on 2nd December.
“As of November 14, 2013, no BitFunder user will be able to enter into any new positions or sell positions on the BitFunder website.
“…As of the date of this notice, BitFunder is not assessing any new fees against any BitFunder user.”
The closure is another gravestone in a graveyard of dead bitcoin stock exchanges.
advised all US users of BitFunder to move their money out by 1st December. As one might expect, US users took the hint, causing a stock crash on BitFunder.
The decision to ban US users appeared to be in response to moves by the US Securities and Exchange Commisssion (SEC), which regulates stock exchanges, to clamp down on bitcoin.
By preventing US users from trading on the site, the site might have a stronger defence against the long arm of the US law.
It’s unclear if those pressures are connected to the decision to shutter the site entirely.
“I will be making a detailed post explaining more later on. I know this will be hard for some of you, but please try to hold off on the conspiracy theories until then,” wrote Ukyo in his announcement about the closure of the site.
, he admitted that the decision to shut down had been a recent one.
We have reached out to him for more information and will update this article accordingly if and when we hear back.
Ukyo is also the owner of WeExchange, a site connected with BitFunder that allows users to trade bitcoin into US, Canadian and Australian dollars.
Ukyo hinted that “WeExchange has big news coming very soon”, but with the current turmoil it remains to be seen whether anyone will have stuck around by the time it’s announced.
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