Bitcoin Startup Purse to Shut Down After 6-Year Run

Purse’s website.

“It was a business decision, nothing funky going on,” Purse support manager Eduardo Gómez said in a Twitter DM. Purse will disclose more information in a forthcoming blog post, he added.

Purse will continue to facilitate services until June 26 but signups will cease Thursday. Additionally, the startup’s “Shop and Earn” functionality will be disabled next week on April 23 and open orders that have not been matched will be canceled, the email states.

As CoinDesk previously reported, Purse was once an active developer in the Bitcoin community. The firm proposed a third scaling solution called “extension blocks” during the 2017 debates that spawned Bitcoin Cash. The extension blocks specification was never adopted, however.

Gómez said the decision to wind down the company was not related to the recent move by Amazon to slash commissions on its affiliate program.

UPDATE (April 13, 1:00 UTC): A previous version of this article mislabeled Purses scaling solution. The article has been updated to reflect the change.

Disclosure strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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