Crypto Exchange Bit2Me Decides To Salvage 2gether Customers After The Account Block

Share This Post

Bit2me, a Spanish cryptocurrency exchange has decided to absorb customers from 2gether whose accounts have been frozen by 2gether, which is also cryptocurrency exchange. This Spanish crypto exchange has announced that it shall onboard 100,000 investors from 2gether.

2gether has been severely affected by the market downturn and was unable to sustain during the unfavourable industry conditions and imposed a ban on trading. 2gether is also a Spanish cryptocurrency trading exchange which had to shut down the trading service earlier this month.

The reason behind such a move was the inability to fulfil operational costs due to the industry crash. Users were being charged 20 euro maintenance fees. For users of 2gether if they wish to continue trading they would have to transfer their cash and accounts to the company’s platform.

Bit2Me has now formed an agreement to absorb displaced and disrupted crypto investors. The absorption will happen by taking the users without imposing any fees. Now after the onboarding, Bit2Me will reimburse 20 euros to the users.

Bit2Me Steps Up To Provide Relief To 2gether Disrupted Users

Bit2Me without imposing any fee will allow the user to transfer and move their holdings in order for them to resume their trading activities.

At the time when 2gether imposed a prohibition of consumer access along with rubbing out the social media presence this month, the customers of the company were notified about the issues.

2gether completely blamed market conditions for such a situation. Due to such a financial crisis, the exchange company scrapped the free account service.

Bit2me co-founder and CEO Leif Ferreira stated that,

Training, knowledge, and innovation are the keys to bringing this sector to the whole of society. At Bit2Me we are committed to what we believe. For us, the world of cryptocurrencies and blockchain technology is and will be key to our present and future. For that reason, we want to be next to 2gether users who want to continue to be linked to the crypto ecosystem.

Related Reading | Layer One Blockchain Startup 5ire Raised $100 Million, Joins Unicorn Club

Other Developments

The Bank of Spain has recently registered Binance’s Spanish subsidiary which is Moon Tech Spain. Moon Tech Spain has been registered as a virtual asset service provider. In this arrangement, the exchange shall be allowed to offer crypto trading services in Spain.

Changpeng CZ Zhao is of the opinion that effective regulation is mandatory in order for crypto to witness mass adoption. He further mentioned,

We have made significant investments in compliance and introduced AMLD 6 and 5 compliant tools and policies in order to ensure that our platform is the most trusted and safest in the industry.

Bit2me also announced that the company has started their new office in Brazil in May. Bit2me wanted to take care of that particular market that has more than 20 million customers who hold crypto within the country. It has also worked through the compliance and security issues.

Related Reading | Bitcoin Volume Saw False Spike Due To Binance’s Fee Removal

Crypto
Bitcoin was priced at $21,200 on the four hour chart | Source: BTCUSD on TradingView
Featured image from Inversion.Es, chart from TradingView.com
Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Retail investors dominate demand for spot Bitcoin ETFs – Binance Research

Retail investors are leading the charge in the adoption of spot Bitcoin exchange-traded funds (ETFs), accounting for 80% of the total demand, according to a recent report by Binance Research

US Government’s $20M Crypto Breach: How Most Was Returned Within 24 Hours

According to blockchain explorer firm Arkham Intelligence, a significant portion of the US government’s allegedly seized crypto has made its way back Sudden Shift in Seized Crypto Sparks

XRP Network Activity Soars: Can Price Break Free from Resistance?

The post XRP Network Activity Soars: Can Price Break Free from Resistance appeared first on Coinpedia Fintech News XRP’s network activity is making waves as it hits a new high in active sending

Denmark Mulls Taxing Unrealized Crypto Profits Beginning 2026

Denmark is considering taxing unrealized gains on crypto assets to minimize the difference in tax treatment between digital assets and traditional asset holders Denmark Eyes Taxing Unrealized Crypto

Crypto Analyst Says Ethereum Will Outperform Bitcoin And Solana, Is $12,000 Possible?

A top crypto analyst has issued a bold prediction for Ethereum, forecasting it will outperform both Bitcoin and Solana in the coming months Taking to social media platform X, a crypto analyst known

Rep. Hill Slams Gensler’s Approach To Crypto Regulation, Demands New SEC Chair In 2025

In a recent interview on the Think Crypto Podcast, US Representative French Hill expressed his vision for a new leadership at the US Securities and Exchange Commission (SEC) in 2025, emphasizing the