%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment %Bitfront, an American %Cryptocurrency exchange supported by Japanese social media firm Line Corp., said it is ceasing operations. The closure of Bitfront is the latest in a series of failures among crypto entities. Cryptocurrency lender %BlockFi filed for bankruptcy on Monday (November 28), citing $1 billion U.S. in assets and liabilities of $10 billion U.S. Bitfront said its closure is unrelated to the recent collapse of rival cryptocurrency exchange FTX, whose bankruptcy filing is feared to be causing contagion around the world. FTX, which was among the world's largest cryptocurrency exchanges, is now the subject of investigations by authorities for “criminal misconduct” following its $8 billion collapse earlier in November. BlockFi made clear in its Chapter 11 bankruptcy filing that it was negatively impacted by exposure to FTX and its subsequent failure. Bitfront said it suspended new sign-ups and credit card payments as of November 28 and will suspend all withdrawals from its accounts on March 31, 2023. Bitfront added that interest for deposits made between December 5 and 11 will be paid out to customers on December 13 of this year.