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Title: Tradehill has halted trades? Post by: abeaulieu on February 14, 2012, 02:19:25 PM Anyone have the news on why Tradehill has halted trades? I see the Mt.Gox exchange has taken a nosedive. Is this from all of the Bitscalper sell offs or is there something else going on that the exchanges need to correct for.
Post your thoughts or any news you may have found regarding this. Title: Re: Tradehill has halted trades? Post by: abeaulieu on February 14, 2012, 02:22:33 PM Well I guess I found the issue with Tradehill. Sorry if this is old news but here is the post from their blog (http://tradehillblog.com/):
Quote ::::: Announcement :::::: TradeHill suspending trading and returning client funds. Dear Clients, Effective immediately TradeHill will be shutting down trading / deposits and returning all client funds. Due to increasing regulation TradeHill can not operate in it's current capacity without proper money transmission licensing. Combined with multiple bank account closures and Paxum's decision to close all Bitcoin business accounts, we have deemed the best course of action is to halt trading and pursue licensing while raising funds. SEPA transfers for our Euro customers have been enabled. Everyone at TradeHill has also been working without pay for several months after one of our payment processors removed over $100,000 dollars from our account without notice. We decided to cover this loss for now instead of passing it on to our customers and are taking legal action against the processor. We would also like to make it known that our relationship with Paxum has been great and hope to work with them in the future. We will be focusing on Bitcoin.com and are preparing to release a new site before the end of the month. It has been a pleasure working with the Bitcoin community and look forward to continuing our business in the future. More details to come soon. Sincerely, Jered Kenna Chief Executive Officer TradeHill Please send all press inquires to: press@tradehill.com Edit: We've received a lot of questions regarding donating your remaining balance to Bitcoin.com development. We've enabled a method to donate in all of the currencies and Bitcoin. 100% of these funds will go to Bitcoin.com development and keeping a community element present on the site. We have a great team lined up that we are preparing to announce and changes in the works to be released very soon. Thank you for all of your support. Title: Re: Tradehill has halted trades? Post by: GeniuSxBoY on February 14, 2012, 02:27:22 PM Good Night Sweet Prince.
RIP Tradehill |