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Freeway Crypto Staking Platform Halts Withdrawals Amid Market Volatility

Freeway, a UK-based crypto staking platform, has halted withdrawals citing market volatility. Meanwhile, crypto researcher FatMan accuses the platform of operating a Ponzi scheme and urges investors to withdraw funds immediately.
Published on 2022-10-24

Freeway Crypto Staking Platform Halts Withdrawals Amid Market Volatility

Freeway, a UK-based crypto staking platform, has halted all withdrawals due to extreme volatility in the crypto and Forex markets. The platform cited these market conditions as the reason for the withdrawal suspension. This move has raised concerns among investors and the broader crypto community.

FatMan Accuses Freeway of Running a Ponzi Scheme

Prominent crypto and finance researcher FatMan has accused Freeway of operating a Ponzi scheme. He urged investors to withdraw their funds immediately, warning that the platform could collapse soon, leading to significant losses for depositors. FatMan also noted that Freeway removed team members' names from its website after halting withdrawals, further fueling suspicions.

Founders Defend the Platform

Graham Doggart, one of Freeway's founders, emphasized that the platform was created to generate benefits and rewards for users. He expressed his commitment to seeing users reap those rewards. Similarly, CTO Matt Spangard previously stated that Freeway's model ensures consistent returns regardless of market direction.

Implications for Investors

The sudden halt in withdrawals and the removal of team member information have sparked fears among investors. FatMan's warnings have added to the urgency, with many in the crypto community expressing concerns about the platform's solvency. Investors are advised to stay vigilant and consider safeguarding their assets amid this uncertainty.

This situation highlights the risks and challenges associated with crypto staking platforms, particularly during periods of market instability.

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