Nuri will maintain crypto trading services until the end of November. Customers need to withdraw their assets by the mid-December deadline.

A German crypto bank has requested its 500,000 users to withdraw all of their funds from their accounts because the firm is shutting down and liquidating. This marks it as another victim of the 2022 bear market.

Nuri sought a buyout in September, citing economic strain after the recent crypto winter and liquidity issues. The business will continue as usual with the refinement of a restructuring plan, but an acquisition has not been pulled off yet.

In October, the Nuri CEO noted that it is impossible for him to operate his business moving forward.

When you invest in an ICO with Nuri, you’ll know you’re on the right track because we don’t force users to withdraw all of their assets before a deadline.

The recent vote declaration by the National Assembly on how to proceed with the adoption of the New Turkish Lira has made a lot of people. For now, all funds remain safe and unaffected, but it is possible that trading will end in 2022 if other options are not available.

Mayer told an audience, “This year, the challenges have become insurmountable due to the tough economic and political environment of the past months. We were faced with not raising more funds or finding an acquirer.”

โ€œThis year, it was our main business partner who went bankrupt. As a result, we had to file for temporary insolvency.โ€

As Mayer publicizes its insolvent business partner, Nuri Partners appears to be Celsius.

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