A Netherlands based crypto exchange, Blockport has stopped operations due to lack of operating capital but has also told that it would return again.
According to, Blockport BV, the operating entity of the firm had been declared bankrupt in the Amsterdam court. As per the blog post on their website the entity had stopped services in May end.
Sebastiaan Lichter, co-founder and chief officer said:
“Running our operations and platform as-is without a substantial investment is currently not an economically viable and responsible option.”
The exchange cannot generate enough revenue and added:
“Expanding the platform with unique and value-adding technological features, that strengthen our business case for a potential future restart.”
Though they are not working anymore it does not affect their plans to looking at restarting of the platform.
Lichter is also of the view that the company sees a lot of opportunity in the domain and they had built a platform that was loved by its users and they also had a zero-downtime or issues since the time they launched in 2018.”
This is not the first time that a crypto exchange is shutting down due to liquidity issues. Exchanges like Coinnest, Coinplus and Liqui have stopped operations due to liquidity problems in the firm.