Bitcoin marketplace Buttercoin to shutdown this week

Buttercoin, a US bitcoin marketplace, is shutting its operations within just four months of its launch despite at least $1.3m worth of investment. In an email to its customers, the company said that it will close this Friday (April 10th) at 11pm PST.

"We started Buttercoin with the goal of creating secure and scalable bitcoin infrastructure the community could rely on ... We're proud to have delivered on our goal and commitments," the email read.

Emphasizing that it was "100% secure and solvent", the platform cited a lack of venture capital interest for its closure, stating:

"With the dip in bitcoin interest among Silicon Valley investors, we weren't able to generate enough venture capital interest to continue funding Buttercoin."

Customers have been informed to transfer their bitcoin to other services before Friday's deadline. The company added that any funds that are left behind will be converted into dollars and sent to the bank address related to each account.