Bit.com’s Shutdown: A Cautionary Tale for Crypto Businesses
Bit.com is shutting down. They’re closing their doors, and if you’re a user, you might be wondering how safe your assets are. They’ve announced a migration plan, but that doesn’t mean you’re not at risk. Phishing scams and sudden liquidity crunches could hit you hard. Let’s break this down and see what it means for crypto businesses and users alike.
Bit.com: A Brief Overview of Their Closure and What It Means for Crypto Business Compliance
Bit.com, which launched back in August 2020 and was operated by Matrixport, is set to shut down by March 31, 2026. It’s a phased shutdown, and it’s happening for the usual reasons: regulatory pressure and liquidity problems. They’ve put a “User Asset Migration Plan” in place to help…
