Got a quick story for you guys today.
EQONEX, a Singapore-based cryptocurrency exchange founded on May 26th, 2020, announced that they will be leaving the crowded crypto exchange space by closing down their own exchange on August 22, 2022.
Users still have until September 14th to withdraw their funds. If you have any funds in the exchange, it would probably be best to go withdraw ASAP.
After just 2 years, the company will be moving away from their main identity and shifting focus to their Asset Management and Custody businesses.
“We are focused on opportunities that will drive revenue growth and position us for long-term success. Closing the Exchange will significantly simplify our business, narrow our focus, free up resources, and allow us to operate as a more efficient organization with capacity to aggressively go after market segments that offer the most potential.”
- Jonathan Farnell, CEO of EQONEX
To make matters worse, EQONEX has a native token called EQO, that was released back on April 8th, 2021.
The EQO token will cease trading immediately, and EQONEX states they will communicate with all holders directly regarding their EQO balance.
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