Juno Urges Users to Withdraw Their Funds as Its Cryptocurrency Partner Prepares to Shut Down

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Last Updated on January 5, 2023 by Bitfinsider

The firm for on-ramp cryptocurrency service Juno, advised its users to withdraw their cryptocurrencies from the platform since its payment partner, Wyre, may soon cease operations.

Two former employees informed Axios that the company will shut down this month, after Wyre began laying off employees. An ex-employee, citing an email from CEO Ioannis Giannaros, reported that the company will collapse and cease operations as early as this month. A former employee informed Axios that no severance compensation have been provided. Wyre is one among the two most recent victims of crypto winter.

Juno advised its users to withdraw their cash to their own self-custody wallets or convert them to fiat on its platform.

The quantity of crypto assets held on the site has decreased to $1.25 million after its clients were instructed to do so.

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