The current bear market has rattled the digital asset industry to the core. A lesser-known crypto-staking platform, Freeway, is the latest to halt withdrawal services citing volatility in foreign exchange as well as cryptocurrency markets in recent times.
“Freeway has therefore decided to diversify its asset base to manage exposure to future market fluctuations and volatility ensuring the long-term sustainability and profitability of the Freeway Ecosystem. This will allow Freeway to maintain the highest level of Supercharger simulation rewards.”
- Following the official update, Freeway’s native token, FWT, crashed by over 77% with a market cap of around $17 million following the nosedive.
- According to the whistleblower FatMan Terra, the website admin is currently in the process of removing the names of core team members behind the staking platform.
- He also said that while the team members are legitimate, some of their CVs/descriptions are “highly embellished.”
- Just two days ago, FatMan alleged that Freeway could be potentially operating a Ponzi scheme and predicted an impending collapse within the next few months.
If anyone has funds in crypto yield platform Freeway, I would suggest withdrawing right away. I believe they are operating a Ponzi scheme. In my opinion, it’s likely that Freeway will collapse within the next few months and that all depositors will lose everything.
— FatMan (@FatManTerra) October 22, 2022
- Market experts expect…
