Crypto yield platform Freeway stops withdrawals


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Crypto yield platform Freeway stops withdrawals, unprecedented volatility in forex and crypto market 

Small cap platform that promised users approximately 43% in yearly awards puts the brakes on withdrawals as well as scrubs team from site. 

Freeway, a crypto staking system, introduced late Sunday[10-23-2022] that it had paused withdrawal solutions,......  

citing volatility in the crypto and foreign exchange markets as well as sending its token into a free-fall. 

The Freeway (FWT) token is down approximately 80% in the hrs because the announcement. 

The firm cited "unprecedented volatility" in the forex and also crypto market as the reason. 

Freeway was not a significant or well-known project, with a market cap of less than $70 million before .......

the crash and also currently $10 million at current trading costs. 

Freeway declared it had $160 million in total value secured by means of a number published on its website. 

On-chain information suggests that most of the biggest of the 4,342 token owners received it throughout an airdrop and also were or otherwise still. 

The largest whales on the system lost just over $16,500, using prices data from prior to Sunday's[10-23-2022] market crash. 

As noted by Twitter personality FatManTerra, the administrator of the Freeway website remains in the procedure of deleting team names from the page. 

The system announced its plans to "diversify its possession base" and "handle direct exposure to future market fluctuations as well as volatility." 

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References:- 1. coindesk.com  2. coincodecap.com