Blockchain financial service provider Unbanked will gradually shut down, and users need to withdraw their funds within 30 days

ChainCatcher news, the blockchain-based financial service provider Unbanked announced that it will gradually shut down operations, primarily due to excessive regulation. Unbanked account customers and its white-label program clients should start withdrawing all funds (both cryptocurrency and USD) as soon as possible, with withdrawal functionality remaining for the next 30 days.

Unbanked stated that most of its funding comes from supporters of various crowdfunding campaigns, raising $4 million from approximately 6,000 investors over 5 years. Three weeks ago, Unbanked signed a $5 million letter of intent for investment, valuing the company at $20 million, which would enable us not only to continue operations but also to expand. However, as of now, Unbanked has not received these funds. Unbanked stated that it will resume operations if the funds are received later. (source link)