Freeway has halted some of its services, citing unprecedented volatility in the foreign exchange and cryptocurrency markets.
The platform announced they are halting buys, deposits and will not be buying Supercharger simulations until our new strategies are implemented.
According to the Freeway website, their Superchargers 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.
A centralized platform, Freeway advertises itself as combining the best of traditional finance with the best of decentralized finance (DeFi). Freeway has not provided any specific details about what its new strategies might involve, but said in the announcement there are plans to diversify its asset base and manage exposure to future market fluctuations and volatility.
The news about halting some services has seen their token Freeway drop more than 75% in the last 24 hours, according to Coingecko. 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.
