I'm sure many of you have heard about Bitwala, the banking app that lets you trade crypto as well - it's like Skrill or Payoneer. They haven't let new customers in for ages. Sometime last year they went through a complete redesign and rebranded themselves as Nuri.
Spoiler alert: If you see a crypto company redesigning their website and its not because they bought a slick domain (I'm looking at crypto.com), you can tell they are clearly struggling in the business.
They filed for bankruptcy in August 9, some months after the CeFi fallout. Their FAQ happily said, which I coincidentally checked just yesterday: "Q: Will you continue operations? A: Yes, we will keep operating" or words to that effect (I need to grab a Wayback Machine copy of this page for reference).
And now today they announced that they are shutting down: https://nuri.com/blog/letter-from-ceo/
This phase feels like a market correction for recklessly lending & borrowing companies.
Topic: Another one bites the dust: Nuri (formerly Bitwala) - page 2. (Read 370 times)
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