CoinPulse Exchange "headed for indefinite maintenance"

01 Feb, 2019
CoinPulse Exchange headed for indefinite maintenance

Small-time exchange CoinPulse has become the latest cryptocurrency exchange to suffer from liquidity issues this month, as the exchange announced  "indefinite maintenance"

CoinPulse made the announcement on twitter with a Medium article linking the issues the exchange was facing. 

The exchange admitted that they had been working with an investor to keep the exchange afloat, however were failing in their attempts to do so. Therefor the decision to suspend trading and halt all operations was taken. 

The exchange has given users until February 7 2019 to withdraw all funds. CoinPulse are currently looking for investors to acquire CoinPulse in its entirety. 

The news comes the same day as Canadian exchange Quadriga CX announced that it would be filing for creditor protection due to liquidity issues and not being able to access their cold storage wallet. 

Read More: QuadrigaCX: Can't access cold storage, filing for creditor protection

Other casualties include Liqui exchange, which just last week announced that it would be closing its doors due to insolvency. 

Read More: "first big victim of insolvency problem" - will more exchanges shut down?

Crypto winter appears to be taking its toll on companies as we head for the longest bear market in crypto history. Companies appear to be battling with liquidity and maintaining business in a declining market. It is quite possible that more companies follow suite in the coming months if the market trend does not change. 

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