Crypto staking platform Freeway has announced that it has stopped withdrawals, citing market volatility.
Promising its users staking rewards of up to 43 percent annually, Freeway is trying to keep its users away from the site for a while by stopping withdrawals.
Freeway Suspends Withdrawals
The volatility in global markets and crypto money markets is challenging many companies in this period. Many events during this period could not prevent the market from going bad. In a recent announcement, Freeway announced that it has stopped withdrawals, citing the volatility in the crypto and forex markets. After this statement, Freeway’s crypto money suffered a serious decline.
As can be seen in the chart, the Freeway (FWT) token fell by about 80 percent after the announcement. The volume of crypto money fell to 10 million dollars after the announcement.
In a statement made on Freeway’s site, he said that the total locked assets on the platform are $160 million.
Using the prices before the platform announced the whales, it lost just over $16,500. FatManTerra on Twitter is said to have deleted the names of his team members from the Freeway manager website, as claimed.
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