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According to reports, problems began at Wyre when it set withdrawal limits for user accounts, claiming the community’s best interests. Wyre, a prominent payments firm in the crypto industry, has recently plans toward the closure of its business as it plans to cease operations by the end of next month. As highlighted
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Wyre, a platform facilitating payments with digital currencies, is closing shop due to the ongoing decline in the market. The portal has since its winding-down procedure, stating that potential purchasers interested in acquiring the company’s assets
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San-Francisco-based crypto payments firm Wyre is shutting down after almost 10 years in business, citing the financial challenges of the bear market, and not anything to do with any hawkish “regulatory agency direction” in the United States. In a June 16 blog post, the firm stated that it made the
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Wyre has assured the crypto community that it is ready to resume regular operations.Crypto payment platform Wyre has removed its withdrawal cap after securing additional funding from a strategic partner. Recall that a few days ago, Wyre imposed a 90% withdrawal limit on its users. The company also laid off
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Crypto payment platform Wyre has lifted the 90% withdrawal limit it placed on its users earlier this week after securing additional funding. On Jan. 13, the San Francisco-based fintech firm announced that it had received financing from a “strategic partner” that allows it to continue the normal course of operations, including
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Crypto payment platform Wyre modified its withdrawal policy to limit users from cashing out up to 90% of their assets just days after two former employees allegedly hinted the possibility of a shutdown.On Jan. 7, 2023, Wyre imposed a withdrawal limit on its platform, citing “the best interest of our
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Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is “modifying” its withdrawal policy, citing the crypto industry downturn and the “macroeconomic climate” as factors that
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Crypto wallet MetaMask is ending support for services of Wyre crypto payment platform amid reports of Wyre planning to shut down operations soon.MetaMask took to Twitter on Jan. 5 to announce that it has removed Wyre from its mobile aggregator, which allows users to buy crypto directly through its digital
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According to several reports, Wyre, a cryptocurrency payments firm, is allegedly sunsetting its business. Wyre’s purported wind down follows Bolt, another payments company, canceling its plan to acquire Wyre in September. Wyre CEO Ioannis Giannaros, however, told Axios that the company is “still operating” and is simply “scaling back.” Wyre Cryptocurrency
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A landmark deal that would have seen payments firm Bolt acquire Wyre for $1.5 billion has been scrapped by mutual agreement, according to a press release. Original Source
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