- Hotbit has shut down all of its exchange services.
- The exchange cited changing the crypto scene after the FTX blowup as one of the reasons for the closure.
- Hotbit had a strong opinion about the future of centralized exchanges.
Centralized crypto exchanges (CEXs) have had perhaps the worst time in the history of crypto. After FTX blew up in November last year, other exchanges started facing scrutiny from regulators.
One of these exchanges, Hotbit, announced it is abruptly shutting down operations.
Hotbit Shuts Down Exchange
Hotbit, operating for over five years, has decided to close its doors without warning.
On Monday, the exchange released an official article explaining the reasons for the unexpected closure of its business.
