Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Crypto Winter – Over 340 UK Crypto Firms Went Out Of Business In 2018

Crypto Winter – Over 340 UK Crypto Firms Went Out Of Business In 2018

Kelly Cromley by Kelly Cromley
Jan 14, 2019
in Market News, News
Reading Time: 2 mins read
0

According to recent research by Sky News, the crypto world appears to be sobering over a year. In the last year, at least 340 registered companies in the United Kingdom with links to blockchain or cryptocurrency broke down after launching at the peak of the crypto boom.

The end of gold rush has seen many of the crypto companies remove the words crypto and blockchain from their company names–this is the extent of the turning tide.

According to Sky News research, the business year 2017 – 2018 proved to be a short one for crypto-focused companies.

From the article:
“…at least 340 companies related to cryptocurrencies or blockchain were dissolved or liquidated this year, compared to 139 in the previous year. More than 200 of those companies were incorporated with Companies House during 2017, when the value of Bitcoin surged 1,500% through to its peak in December.”

Most of these liquidations (60%) occurred between June and November and were probably triggered by the fall of BTC to the $5,000 level towards the end of June. And in a very rare way, the number of companies that are dissolved now exceeds the number that is registered in the blockchain area, at least in the UK.

As a perfect example of the sharp change of direction in terms of the reputation of cryptography: only last year the company Long Island Iced Tea changed its name to Long Blockchain and its stock increased by nearly 300%.


But now, Sky report points out those companies are desperate to get rid of words crypto and blockchain from their name as quickly as they can:

“Of the businesses which haven’t been dissolved, Sky News has found more than 50 which have changed their names to no-longer reference Bitcoin, blockchain, or cryptocurrencies. The chief executive of one business said this was because opening a bank account with one of those words in the company name proved a nightmare – although Sky News identified hundreds of other businesses with similar titles.”

Is it really surprising that opportunists who entered the crypto space when the price was low would leave? It is worth remembering that many of these companies would never have had a lasting impact on the cryptographic space. Any company requiring BTC to trade high just to exist does not have a very efficient business model.

Despite the turning of the public opinion on BTC and the cryptographic space in general, Bitcoin is still trading at a price higher than it had been for nine out of its 10 years. Ironically, it’s the best time for companies to move. But probably they’ll wait until it’s too late again.

Previous Post

UAE To Become Top Destination For Crypto Entrepreneurs in 2019

Next Post

Additional 2mln. Bitcoin Private (BTCP) Coins Mined Secretly

Related Posts

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

by Mostafijur Rahman
Jun 13, 2025
0

Ripple’s vision of replacing or supplementing parts of the legacy SWIFT system is not new—but what if it actually happened...

sft-luffa-partner-for-secure-web3-messaging

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
0

SFT Protocol, a notable player in the decentralized finance landscape known for enabling liquidity in staked assets, has announced a...

quackai-soonchain-decentralized-gaming-partnership

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
0

Quack AI, an established platform specializing in artificial intelligence-driven governance solutions, has announced a strategic partnership with SoonChain, a progressive...

Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
0

Polygon, a leading Layer 2 scaling solution for Ethereum, has announced plans to extend the functionality of its native POL...

Cardano Launches Smart Contracts Testnet “KEVM”

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
0

Cardano, one of the foremost public decentralized blockchain protocols, has unveiled a new anti-grinding mechanism aimed at improving network security...

nillion unveils alpha mainnet to advance privacy-centric computing

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025
0

In a significant move toward expanding decentralized infrastructure beyond traditional crypto use cases, Nillion has officially introduced its Enterprise Cluster....

Next Post
Additional 2mln. Bitcoin Private (BTCP) Coins Mined Secretly

Additional 2mln. Bitcoin Private (BTCP) Coins Mined Secretly

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

sft-luffa-partner-for-secure-web3-messaging
Market News

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
quackai-soonchain-decentralized-gaming-partnership
Market News

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises
Market News

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
Cardano Launches Smart Contracts Testnet “KEVM”
Cardano News

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
nillion unveils alpha mainnet to advance privacy-centric computing
Market News

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree