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Bit2me, a Spanish cryptocurrency exchange, announced that the deal it was aiming to complete with 2gether, another Spanish exchange, fell through due to internal discrepancies. The company was hoping to absorb 2gether’s customers after it blocked operations, forcing users to pay €20 to continue using the platform after declaring it could no longer offer free services earlier this month.
Spanish cryptocurrency exchange 2gether is still struggling after it blocked its customers’ access to the platform earlier this month. Bit2me, another cryptocurrency exchange, had proposed a deal to absorb these customers and move their money 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 provide a solution so that 2gether users could continue to trade their cryptocurrencies on Bit2Me. All this, from good will and without any form of financial compensation between the parties.
2gether blocked users from accessing their funds on its platform earlier this month due to what it called its “inability to maintain free service” as a result of the downturn in the cryptocurrency market, and told customers they would have to earn a €20 (about $20) -time payment to continue using their cryptocurrency trading platform. Bit2me initiated talks with the exchange to absorb their customers in the interest of offering their services to keep these customers in the crypto ecosystem.
On this Bit2me stated:
Bit2Me’s goal with this agreement was to protect the crypto ecosystem in Spain to allow 2gether customers to continue buying and selling cryptocurrencies without selling their positions.
However, Bit2me has not given up and it is presenting an offer to customers that will refund the €20 one-time payment if they voluntarily transfer their funds from 2gether to the platform. However, the value of the cryptocurrency transferred must be higher than €200 euros for this to apply.
The issues facing 2gether affect more than 100,000 customers, some of whom are already planning to take legal action against the exchange. This is the case of Asufin, a local association of users, which has hinted at taking this kind of action. It declared:
At Asufin, we are considering the possibilities of filing a legal claim to inform affected consumers of the steps to be followed in the face of this type of “exchange platform” closure.
What do you think of the unfinished deal between Bit2me and 2gether? Tell us in the comments section below.
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