Brawker, a bitcoin buying service, has recently announced in a blog post that it will shut down its operations at the end of this month. It cited competition and workload issues as reasons behind the decision.
The news comes after the former CEO Cyril Houri left the company following a management shakeup earlier this month.
"We did not meet our objectives, and the general idea behind the project is not as effective as it was 18 months ago. Buying bitcoin with credit cards is now possible, and more and more merchants are accepting digital currencies", Gabriel Majoulet, CTO at Brawker, told CoinDesk.
However, he suggested that their team would continue to work on bitcoin initiatives.
"We want to move on to the next project and start working on something that's more useful to the community," he said.
