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Bitcoin Marketplace Brawker to Shut Down
Bitcoin marketplace Brawker has announced that it will shut down citing competition and the increasing workload as the reasons behind the decision.
Bitcoin buying service Brawker has announced that it will close its doors at the end of April, citing competition and workload issues.
The news, made public in a 14th April blog post, comes soon after the departure of former CEO Cyril Houri, who left following a management shakeup earlier this month. The decentralized platform, launched in April of last year, enabled consumers to purchase products with bitcoin.
STORY CONTINUES BELOW
Gabriel Majoulet, CTO at Brawker, told CoinDesk:
"We did not meet our objectives, and the general idea behind the project is not as effective as it was 18 months ago. Buying bitcoin with credit cards is now possible, and more and more merchants are accepting digital currencies."
He suggested that the Brawker team will continue working on bitcoin initiatives. "We want to move on to the next project and start working on something that's more useful to the community," he said.
Majoulet confirmed that user transactions would be completed before the service went offline. Brawker is no longer accepting new orders, he added.
Image via Shutterstock
