German cryptocurrency exchange Nuri affirmed it has filed for insolvency on 9 August 2022. Earlier this year Nuri was already experiecing difficulties, which lead to reducing its workforce in May 2022:
‘To set up Nuri in the most successful way for the new reality we’re facing, we had to take the responsibility and act quickly rather than wait. During the past weeks, we had to make some significant, but also often quite uncomfortable decisions
‘The saddest decision is the reduction of our workforce and therefore parting with some of our team members.’
source: nuri
As oppposed to other crypto exchanges that suspended withdrawals, Nuri’s customers funds are safe and can be withdrawn due to its partnership with Solarisbank AG.
Nuri assures the any EUR deposits, BTC and ETH in wallets, valuts and the Nuri Pot investements are unaffected by the temporary insolvency. Nuri’s clients (over 500,000) can freely deposit and withdraw whenever they wish.
A report by Coincub places Germany in the top ranking country for cryptocurrencies
