X-BT Exchange Shutting Down

Cryptocurrency exchange X-BT.com  is closing down as of today, though the site will remain online for at least two weeks to allow customers to withdraw funds held on the platform. The announcement which arrived via email reads:

Dear users,

The exchange is closing down as of today, Friday, October 31th.

Please do not deposit any new funds and withdraw any outstanding funds you may have on the exchange. The website will be kept online for at least two weeks to ensure users have sufficient time to withdraw their funds, after which it will be taken down.


This closing is notable because it is one of the rare clean closures in the Bitcoin space. After the closure was announced, the reason for closure was confirmed by X-BT's operator Apocalyptic to be that "There was just no point running it any longer." Apparently the insight to recognize that point is scarce in the population of Bitcoin entrepreneurs with clean closures seeming to be the exception, rather than the normal mode for ending a business.

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