Fair Desk Crypto Exchange Shut Down: What You Need To Know
Fairdesk, a Singapore-based cryptocurrency exchange, is shutting down permanently on November 30. The decision comes amid shifting market conditions and regulatory changes, according to a company release. Fairdesk had built a reputation for offering futures trading, spot trading, and other crypto services to a global user base.
However, due to challenges in the current environment, the company's leadership has opted to wind down operations. As of October 17, all trading activities on Fairdesk will cease, with only withdrawals allowed until the final closure date. Users are encouraged to withdraw their funds before the November 30 deadline.
Fairdesk was a derivatives trading platform that allowed users to buy and sell digital assets. It offered leverage up to 125x, enabling traders to maximize potential gains with minimal capital. The platform was known for its high performance, reliability, and low transaction fees, positioning itself as a trusted exchange for day traders. Fairdesk also prioritized security, storing user funds in cold wallets and manually inspecting and signing every transaction offline.