bitcoin_euroThis is not good news if you are a Bitcoin advocate, fan, or user. Bitfloor is shutting down. During the Great MtGox downtime and trading halt, smaller exchanges, such as bitfloor, provided valuable market liquidity. No more, for bitfloor. This was revealed in a statement on the website which read;

I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past. As such, I have made the decision to halt operations and return all funds.

Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.

– Roman
founder – bitfloor.com

Bitcoin has enjoyed a riotous few weeks, blasting forward in value to the $266 mark before cratering. The coins are currently trading at $84. That said, the market for their trading has contracted today, which would lower investor confidence in the currency. In fact, total value of all Bitcoins in existence is now under the $1 billion mark.

Credit: TNW