Bit2me, a Spanish cryptocurrency exchange, announced that the deal it aimed to complete with 2gether, another Spanish exchange, fell through due to internal discrepancies. The company hoped to absorb the customers of 2gether after it blocked operations, forcing users to pay €20 to keep using the platform after having declared it could no longer provide free services earlier this month.
Bit2me Drops 2gether Customer Absorption Deal
Spanish cryptocurrency exchange 2gether is still facing difficulties after it blocked its customers’ access to its platform earlier this month. Bit2me, another cryptocurrency exchange, had proposed a deal to absorb these customers and move their funds to its platform. However, according to a blog post issued by the company, the deal was not completed due to internal discrepancies.
In the blog post, Bit2me’s team explained that:
Bit2Me was determined to offer a solution so that 2gether users could continue trading their cryptocurrencies on Bit2Me. All this, from the good will and without any type of financial compensation between the parties.
2gether blocked users from accessing their funds on its platform earlier this month, due to what it called the “inability to maintain free service” as a result of the cryptocurrency market downturn, telling customers they had to make a €20 (about $20) one-time payment to keep using their platform for cryptocurrency trading. Bit2me initiated talks with the exchange to absorb their customers in the interest of offering its services to keep these customers in the crypto ecosystem.
About this, Bit2me stated:
Bit2Me’s objective with this agreement was to protect the crypto ecosystem in Spain in order to allow 2gether clients to continue buying and selling cryptocurrencies without selling their positions.
However, Bit2me has not given up, and it is presenting an offer for customers that will reimburse the €20 one-time payment if they transfer their funds voluntarily from 2gether to its platform. However, the value of the cryptocurrency transferred must be higher than €200 euros for this to apply.
The woes that 2gether is facing are affecting more than 100,000 customers, and some of these are already planning to take legal action against the exchange. This is the case with Asufin, a local association of users, that has hinted about taking this kind of action. It declared:
At Asufin we are assessing the possibilities of filing a legal claim to inform affected consumers of the steps to follow in the face of this type of closure of ‘exchange’ platforms.
What do you think about the unfinished deal between Bit2me and 2gether? Tell us in the comments section below.