Crypto Giant Txbit Announces Its Grand Shutdown To Be September 14 – Investor Bites

SNEAK PEEK

• Txbit.io is ceasing services on September 14, 2023, urging users to withdraw funds.
• 1.51 billion yet-to-circulate Txbit tokens (95.65% of the total) will be burned.
• Txbit ensures a smooth transition for wrapped tokens and their contracts.

In a surprising turn of events, the renowned cryptocurrency platform, Txbit.io officially announced its demise of services come September 14, 2023. Expressing the decision with heartfelt emotion, the platform urges its devoted clientele to ensure all funds are withdrawn before the 12:00 PM UTC deadline on the above date. Although, delays might ensue due to a potential surge in withdrawal requests. Therefore, swift action is recommended.

It has been a difficult decision, and with heavy hearts and tears, we announce the closure of Txbit’s services on September 14th, 2023.

We kindly ask all our customers to withdraw their funds before 12:00 PM UTC on September 14th, 2023.https://t.co/JKxrG9PiQv pic.twitter.com/MVWm8UPtZQ

— txbit.io (@txbit_io) August 14, 2023

On the same note, on August 14, 2023, the platform will halt momentarily. This one-hour pause will serve to cancel all standing orders. Additionally, the trading features will be permanently disabled post this interval. 

Significantly, Txbit tokens are not heading into insensibility. The yet-to-circulate 1.51 billion tokens, which form a staggering 95.65% of the total supply, will undergo burning soon. However, enthusiasts can continue trading the Txbit token on Pancakeswap.

Further, Txbit isn’t leaving its wrapped token associates in a lurch. Based on sources, the exchange will connect with respective project developers to ensure a smooth transfer of wrapped tokens and their corresponding contracts.

To wrap it up, in the wake of this monumental shift, Txbit expressed deep appreciation for the unwavering support from their users. The company conveyed genuine remorse for any inconvenience their decision might cause. Their most profound hope is for all affiliated projects to realize their ambitions and goals. Even as Txbit’s chapter ends, the firm maintains optimism for the more comprehensive crypto narrative.

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• Source: https://investorbites.com/crypto-giant-txbit-announces-its-grand-shutdown-to-be-september-14/