Exchange record
LiteBit
Rotterdam-based European crypto broker / exchange platform founded in 2013. LiteBit announced on 2023-05-23 that it intended to cease operations because of market developments, increased competition, and regulatory pressure. The Dutch ACM approved Bitvavo's acquisition of LiteBit's business on 2023-06-06, including the customer-base transition; LiteBit's current official site confirms operations have ceased and eligible customer funds were moved to Bitvavo.
Key facts
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Summary
Rotterdam-based European crypto broker / exchange platform founded in 2013. LiteBit announced on 2023-05-23 that it intended to cease operations because of market developments, increased competition, and regulatory pressure. The Dutch ACM approved Bitvavo's acquisition of LiteBit's business on 2023-06-06, including the customer-base transition; LiteBit's current official site confirms operations have ceased and eligible customer funds were moved to Bitvavo.
Timeline
LiteBit was founded in 2013 in Rotterdam as a European cryptocurrency broker / exchange platform.
LiteBit announced that it intended to terminate its activities because of market developments, increased competition, and mounting regulatory pressure, while offering customers a path to move assets to Bitvavo subject to regulatory approval.
LiteBit announced that it intended to end its activities due to market developments, increasing competition, and regulatory pressure, while offering customers a switch to Bitvavo.
The Dutch Authority for Consumers & Markets approved Bitvavo B.V.'s acquisition of the LiteBit business. Bitvavo subsequently communicated the customer-base migration process and LiteBit's current site confirms eligible customer funds were transferred to Bitvavo.
The Dutch Authority for Consumers and Markets approved Bitvavo's acquisition of the LiteBit customer base.
LiteBit's help center told users that assets and account information would be transferred to Bitvavo after 2023-08-14 and that logging in to LiteBit would no longer be available after that date.