Top Cryptocurrency News: Spanish Crypto Exchange

The breakdown of the deal between Bit2me

According to a statement from Bit2me, the deal between Bit2me and 2gether, two Spanish cryptocurrency exchanges, failed due to internal issues. 

The company planned to take on 2gether's clients after it shut down operations and forced users to pay €20 to continue using the platform after declaring earlier in the month that it could no longer provide free services.

Bit2me, a cryptocurrency exchange, has put out a plan to take on 2gether’s troubled users and transfer their assets to its platform. But, according to a blog post published by the company, internal disagreements prevented the deal from being finalized.

The Bit2Me team emphasized in the blog post that “the company was committed to provide a solution so that users of 2gether may continue trading their cryptocurrencies on Bit2Me. All of this was accomplished via mutual goodwill and without any sort of monetary payment between the parties.”

Earlier this month, 2gether barred users from accessing their funds on its platform due to what it claimed was an inability to continue providing free service as a result of the collapse of the cryptocurrency market. The company instructed users to pay a €20 (roughly $20) one-time fee in order to continue using the platform for cryptocurrency trading. In an effort to retain these users in the cryptocurrency ecosystem, Bit2me started discussions with the exchange to acquire their users.

Regarding this, Bit2Me noted that “Bit2Me's goal with this deal was to safeguard the Spanish cryptocurrency ecosystem so that 2gether users may continue purchasing and selling cryptocurrencies without liquidating their holdings.”

However, Bit2me has not given up and is now offering users a deal in which they may move their funds willingly from 2gether to its platform in exchange for a €20 one-time reimbursement. However, for this to be applicable, the transferred cryptocurrency must have a value of more than €200.