{"id":8037,"date":"2022-10-24T05:05:48","date_gmt":"2022-10-24T05:05:48","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=8037"},"modified":"2022-10-24T05:05:49","modified_gmt":"2022-10-24T05:05:49","slug":"crypto-platform-freeway-halts-services-citing-unprecedented-volatility","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8037","title":{"rendered":"Crypto platform Freeway halts services citing &#8216;unprecedented volatility&#8217;"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Crypto platform Freeway has halted some of its services, citing &#8220;unprecedented volatility&#8221; in the foreign exchange and cryptocurrency markets in \u201crecent times.\u201d<\/p>\n<p>In an Oct. 23 post, the platform announced they are halting buys, deposits and will &#8220;not be buying Supercharger simulations until our new strategies are implemented.&#8221; <\/p>\n<p>According to the Freeway website, their &#8220;Superchargers&#8221; product can offer up to 43% annual yield rewards. Users can deposit fiat currencies and crypto, which are placed in regulated brokerage accounts which are leveraged for returns.<\/p>\n<p>A centralized platform, Freeway advertises itself as combining the best of traditional finance with the best of decentralized finance (DeFi).\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">As all of you will be aware, there has been unprecedented volatility in Foreign Exchange and Cryptocurrency markets in recent times. pic.twitter.com\/9aHsWbm1So<\/p>\n<p>\u2014 Freeway (@FreewayFi) October 23, 2022<\/p>\n<p>Freeway has not provided any specific details about what its new strategies might involve, but said in the announcement there are plans to &#8220;diversify its asset base&#8221; and &#8220;manage exposure to future market fluctuations and volatility.&#8221;<\/p>\n<p>What exactly this could mean for the platform and its users is unclear, but the post closes by promising to provide updates soon.<\/p>\n<p>&#8220;We will notify you when we are ready to recommence partial Supercharger simulation purchases (buy-backs) and then again as we can recommence full Supercharger simulation purchases as well as on platform Freeway Token (FWT) Deposits and Buys.&#8221;<\/p>\n<p>Cointelegraph contacted Freeway for comment on the status of its withdrawals and for further clarification about the halt of services but was not given any new information.\u00a0<\/p>\n<p>The news about halting some services has seen their token Freeway (FWT) drop more than 75% in the last 24 hours, according to Coingecko.<\/p>\n<p>In the wake of other high-profile issues with crypto firms and exchanges, users have been expressing their concerns on social media and in the Freeway Telegram group.<\/p>\n<p>Whether withdrawals will be honored and if Freeway will follow other high-profile crypto platforms in permanent closure are the two most prominent. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Maple Finance CEO: Separating risk from lending saved DeFi from market crash<\/em><\/strong><\/p>\n<p>So far a lone Freeway moderator\/admin has been advising users to fill out a support ticket and reported they can&#8217;t &#8220;really say anything more until the next official communications are forthcoming.&#8221;<\/p>\n<p>&#8220;The whole team are working very hard with the intention to recommence partial Supercharger simulation purchases (buy-backs) and then to again be able to recommence full Supercharger simulation purchases,&#8221; the moderator added.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/crypto-platform-freeway-halts-services-citing-unprecedented-volatility\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto platform Freeway has halted some of its services, citing &#8220;unprecedented volatility&#8221; in the foreign exchange and cryptocurrency markets in \u201crecent times.\u201d In an Oct. 23 post, the platform announced they are halting buys, deposits and will &#8220;not be buying Supercharger simulations until our new strategies are implemented.&#8221; According to the Freeway website, their &#8220;Superchargers&#8221; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-8037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8037"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8037\/revisions"}],"predecessor-version":[{"id":8039,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8037\/revisions\/8039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8038"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}