Cryptocurrency
Crypto exchanges keep closing: what happens if a crypto exchange goes bust?

A few days ago, Coinjournal presented a report on the number of exchanges that went bankrupt. As it turned out, from 2014 to 2022 at least 42 percent of the platforms stopped working completely and never came back. Over the past four years, the number of bankruptcies has increased significantly. In 2018, 23 exchanges went bankrupt. In 2019, that number increased by 252 percent. In 2020, another 17%. What should users do in this situation? Can you use a cryptocurrency exchange?
In 2021, the number of bankruptcies decreased slightly. But considering the situation now, when the market has been dominated by crypto winter for several months and the forecasts are disappointing, the number of bankrupt platforms will increase again. So before you transfer money, find out, is a crypto exchange legit?
What happens if a crypto exchange goes bankrupt: causes of exchange closures in recent years?
The closure and bankruptcy of cryptocurrency exchanges is caused by a complex of reasons. This leads to site closures; customers can’t withdraw funds, and administration stops communicating with them.
Scam
Exchanges are closed because they are scam projects. A scam is a financial scam aimed at bringing profit only to the organizers of the scheme. A scam is also a deliberate bankruptcy of the company, stopping any payments to the clients. Even though the network indicates a set of signs indicating that the project may be a scam, users still become their victims.
Fraudsters have come up with more and more sophisticated schemes to defraud users. Not infrequently, even experienced investors invest in such exchangers and then cannot return the funds because the sites stop operating. The administration disappears with the looted finances.
Pressure from the regulators
Another reason for the elimination of stock exchanges is the pressure from government regulators. They impose more and more stringent rules to control exchanges. The reason for such increased control is to minimize the risk of criminal use of cryptocurrencies and circumventing sanctions with them.
Recall that in January 2022 in the EU began to work. 5 Directive. It obliges all cryptocurrency companies to verify every client working with digital assets.
Not all exchanges can withstand the pressure and control of state supervisors and regulators.
Exchange hacks
Exchanges are also closing due to being attacked by cybercriminals. It is impossible to predict which exchange will be attacked. Hackers carefully look for vulnerabilities in exchanges’ security systems before hacking. Sometimes attacks result in a large percentage of customer funds being stolen. Exchanges are then unable to reimburse users and shut down.
Incorrect strategy of site development
Incorrect strategy means miscalculations of exchanges’ management, lack of experienced team of marketers, unable to increase the customer base. Because competition in the market is increasing, sites that could not offer exclusive tools for working with assets to customers become outsiders.
The number of transactions on them is reduced; capitalization is falling; customers are leaving for other platforms. Moreover, this can happen even to platforms operating for 5-10 years.
Results
If a crypto exchange goes bankrupt, you probably won’t see your money again. There are a lot of reasons exchanges are closed and stop functioning. Most likely, in 2022, the number of exchanges that will have to close will increase compared to 2021. The long recession in the market, scandals with projects such as Terra, accusations from regulators of illegal trading, hacker attacks, all this does not give cause for optimism.
Cryptocurrency
Bitcoin’s Uptrend Backed by Positive Social Sentiment, Ethereum Joins the Rally

Bitcoin has made a comeback over the past week, rising by 5%. Although investors continue to proceed with caution, new data revealed that bullish sentiment is at its strongest level in six weeks.
This shift came as the crypto asset soared to $88,500 where its rally was stopped.
Bullish Sentiment
According to the latest analysis shared by Santiment, the week started on a positive note for the crypto market, with Bitcoin reaching $88,500 for the first time in 17 days. Ethereum also saw a surge as it surpassed $2,100 for the first time in 14 days.
According to the data revealed by the on-chain analytic platform, positive social media comments have been on the rise, which indicates increased optimism among market participants.
Interestingly, Bitcoin’s crowd sentiment has hit its highest level since February 14, while Ethereum’s sentiment is also trending bullish, thereby suggesting that the recent rally may continue as investor confidence grows.
Cyclical On-Chain Metrics
Despite the price appreciation, the Bitcoin IFP (Inflow-Flow Position) metric continues to flash bearish signals. With an IFP of 696k, significantly below the 90-day simple moving average (SMA90) of 794K, this metric suggests no imminent trend reversal to the upside.
Additionally, the Bitcoin CQ Bull & Bear Market Cycle Indicator remains bearish. Although BTC is in an uptrend, the indicator has shown weak bearish signals similar to previous downturns. The crucial question remains whether this is just a natural market correction or the start of a deeper bear phase. As the DMA30 is still below the DMA365, no bullish shift can be confirmed based on this indicator alone.
Meanwhile, the Bitcoin MVRV (Market-Value-to-Realized-Value) score is currently below its 365-day moving average (SMA365). Historically, this has signaled increased selling pressure, as seen during the August 2024 carry trade crisis when the MVRV score briefly dipped below SMA365. Once that crisis subsided, the MVRV reclaimed the SMA365, which hinted at recovery.
Finally, the NUPL (Net Unrealized Profit/Loss) metric is still below its SMA365 level, which shows that the uptrend could be losing momentum. For Bitcoin to regain strength, the NUPL would need to cross back above its SMA365.
While these metrics suggest a period of short-to-mid-term turbulence, none indicate that Bitcoin has reached an overheated cycle top. Drawing comparisons to the carry trade crisis of August 2024, CryptoQuant analysis suggests that the current bearish signals could be linked to macroeconomic conditions, which are similar to last year’s market conditions. Once these macro pressures ease, Bitcoin is expected to recover, but the market must wait and see if history repeats itself.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Cryptocurrency
Whale.io to Bridge NFT Collection from TON Blockchain to Solana

[PRESS RELEASE – Willemstad, Curacao, March 25th, 2025]
Whale.io has announced plans to migrate its Whale NFT collection from the TON blockchain to the Solana blockchain. The cross-chain transition aims to expand the project’s interoperability and accessibility by leveraging Solana’s infrastructure. This move represents a strategic shift in blockchain alignment for one of the more prominent NFT collections launched in recent years.
Initial Launch on TON Blockchain
The Whale NFT collection was initially launched on the TON blockchain, where all 20,000 NFTs were minted at no cost within hours of release. The rapid minting reflected strong early engagement from the community. Over the following year, the collection became one of the most visible projects on Getgems, TON’s leading NFT marketplace. According to platform data, the floor price increased approximately sevenfold during this period.
Hosted on Getgems.io (collection available here), Whale NFTs quickly became a cultural phenomenon within the TON ecosystem. With eye-catching designs and varying rarities, Whale.io’s collectibles became popular display pictures across Telegram, where the team has continued to deliver value, innovation, and utility to keep the project thriving.
Buybacks, Supply Reductions, and Fee-Free Trading
The Whale team has implemented several mechanisms to manage supply and maintain engagement with the collection, including token buybacks and supply reductions via burns. These practices have been part of the project’s ongoing strategy on the TON blockchain, and the team has indicated that similar measures will be introduced following the migration to Solana.
In addition, Whale NFTs have been available for trading with zero gas fees on supported platforms, a feature that has contributed to repeated appearances on trending lists within Getgems, TON’s leading NFT marketplace. With the upcoming transition to Solana—known for its high throughput and low transaction costs—the collection is expected to remain active across major NFT marketplaces within the Solana ecosystem.
Utility That Packs a Punch
Whale NFTs aren’t just pretty pictures—they’re powerhouses of utility, deeply integrated into the Whale ecosystem. At the heart of this is the Wheel of Whales miniapp on Telegram, a play-to-earn sensation that’s taking the crypto gaming world by storm. This innovative game offers players the exclusive chance to participate in the distribution of Whale tokens, making it a golden opportunity for anyone looking to dive into the project’s rewards system.
Owning a Whale NFT isn’t just a flex—it’s a ticket to amplified benefits within Wheel of Whales. Holders enjoy boosted earnings and a suite of in-game perks, giving them a significant edge in this addictive play-to-earn game. With rarities ranging from common to ultra-rare, each NFT brings its own unique flair and value to the game, making every Whale a prized possession. Highest rarity Golden NFT prices go up to 2000 TON that equals over 7000 USDT.
Bridging to Solana: A New Frontier
Whale.io has announced its intention to bridge its NFT collection to the Solana blockchain, recognized for its scalability and active NFT ecosystem. The transition is designed to expand the project’s reach by integrating with Solana’s infrastructure and user base. According to the team, this cross-chain move reflects a broader strategy to enhance accessibility and engagement across multiple blockchain environments.
The bridge from TON to Solana represents an effort to connect two blockchain ecosystems, enabling broader accessibility for the Whale NFT collection. Whale.io will bring its established framework—which has included gas-free trading, supply reduction mechanisms, and various utility features—into the Solana environment. With Solana’s low transaction costs and high-speed processing, the transition is intended to streamline the user experience and support increased activity across NFT marketplaces.
Bridge Signals Strategic Expansion Across NFT and Gaming Ecosystems
The Whale NFT bridge is a landmark moment for the broader NFT and blockchain gaming industries. It showcases how projects can evolve, adapt, and thrive across ecosystems while delivering consistent value to their communities. For Whale holders, this is a chance to ride the tide of a project that’s already proven its worth and is now gearing up for an even bigger splash. For newcomers, it’s an invitation to dive into a collection that’s equal parts art, investment, and entertainment.
Preparing for the Solana Bridge
With the upcoming bridge to Solana, Whale.io is transitioning its NFT collection into a new blockchain environment. The project has encouraged community members, NFT collectors, and Telegram gaming participants to follow official channels for updates regarding the bridging timeline, marketplace listings, and upcoming developments within the Wheel of Whales ecosystem. Additional information about the bridging process is available at whale.io/thedailyfinn/nftbridging. Following its presence on the TON blockchain, the collection will now be accessible within Solana’s NFT ecosystem.
About Whale.io
Whale.io is a pioneering force in the NFT and blockchain gaming space, delivering innovative projects that blend art, utility, and community value. With the Whale NFT collection and Wheel of Whales miniapp, Whale.io is redefining what it means to own, trade, and play in the decentralized world.
Users can discover the future of Whale.io and $WHALE token by checking them out here:
Website: https://whale.io/
Socials: https://linktr.ee/whalesocials_tg
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Cryptocurrency
Latest Pi Network Developments, Bullish Dogecoin Predictions, and More: Bits Recap March 25

TL;DR
Recent Pi Network updates include PI token inclusion in Telegram wallets and a domain claim program for apps that complete PiNet migration by May 28, 2025.
Dogecoin has jumped by 5% after House of Doge created a 10M DOGE reserve. Analysts see potential for more gains, with some predicting a new all-time high in the coming months.
Shiba Inu has risen by 3.5% amid rising Shibarium activity, higher burn rate, and decreasing exchange netflow – signs of bullish momentum.
What’s New Around Pi Network?
The controversial crypto project marked a major achievement on February 20 when it finally released its Open Network, which also saw the launch of the PI token.
The asset’s valuation experienced huge turbulence during its first trading days, ranging from under $0.70 to an all-time high of almost $3 (registered on February 27). Since then, PI has been experiencing an evident downfall, currently hovering at around $0.92 (per CoinGecko’s data).
The exchanges that have already embraced the coin include OKX, Bitget, Gate.io, and CoinEx (the latest to hop on the bandwagon).
Additional support from major platforms might positively affect the price and reverse the negative trend. The community expects Binance’s decision, which held a vote last month to check whether its users want to see PI listed on the exchange. Over 86% of the voters clicked the “yes” option, but the company has yet to respect their wishes.
Meanwhile, the team behind Pi Network did not extend the KYC process (known as the Grace Period), meaning users who did not take the necessary steps until March 14 risked forfeiting most of their minted PI tokens. Recently, the developers behind the project said some Pioneers will have to complete two-factor authentication (2FA) using a trusted email before their PI holdings get successfully migrated to the mainnet blockchain.
Earlier this week, Pi News (a media channel focusing on the project) claimed that PI investors can now see their tokens in the official wallet of the popular messaging application Telegram. Additionally, Pi Network informed that community apps that have complied with the ecosystem’s listing guidelines and completed PiNet migration by May 28, 2025, can “secure their domains without bidding, with certain requirements and restrictions.”
DOGE Heads North
The biggest meme coin in terms of market capitalization is the best-performing top 20 cryptocurrency today (March 25). Its price has surged by over 5%, and it’s currently trading at above $0.18.
Perhaps the most apparent reason triggering the rally is the establishment of “The Official Dogecoin Reserve” by House of Doge – an entity related to the meme coin.
“Through the launch of the Reserve and an initial 10 million Dogecoin purchase, House of Doge is creating a proof of concept to show that Dogecoin can facilitate seamless and efficient transactions,” the official statement reads.
DOGE’s pump caught the eye of numerous analysts who envisioned further gains in the near future. Ali Martinez, for instance, estimated that the price has broken out of its multi-week triangle, which could be a precursor of a 16% upswing.
The X user Trader Tardigrade was much more bullish, projecting an explosion to a new all-time high of over $6 in the following months.
SHIB Price Outlook
DOGE’s biggest rival has also entered into green territory, albeit registering less substantial gains than the OG meme coin.
While Shiba Inu has pumped by 3.5% in the past 24 hours, some important factors suggest this might be the beginning of a new bull run.
As CryptoPotato reported, those elements include the increased activity on Shibarium, the recent spike of the SHIB burn rate, and the negative exchange netflows (on a weekly scale), which signal reduced immediate selling pressure.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
- Forex3 years ago
Forex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
Unbiased review of Pocket Option broker
- Forex3 years ago
How is the Australian dollar doing today?
- Forex3 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Cryptocurrency3 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities3 years ago
Copper continues to fall in price on expectations of lower demand in China
- Economy2 years ago
Crude oil tankers double in price due to EU anti-Russian sanctions