Berlin Bitcoin Neobank Nuri Shutters Business, Warns Clients to Withdraw Funds

[Google News Bot]

Berlin-based neobank Nuri has officially closed down the shop, citing “insuperable” challenges, which kept the firm from raising new funds or finding an acquirer. Formerly known as Bitwala, Nuri filed for insolvency in August this year after letting go of 20% of its workforce as the firm struggled with the rout in cryptocurrency prices. According to Nuri, the firm has worked “very closely” with its insolvency administrators on a restructuring plan since then, trying to find a potential acquirer. “Unfortunately, we have not been able to find investors to continue our mission and have ...

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