📢Crypto exchange Gate.HK is shutting down, folks! 🚫 Why? Well, they couldn't meet the new licensing requirements set by the Hong Kong SFC. They tried, but decided to withdraw their application, citing a need to overhaul their trading platform. 🔄

No new users, no marketing, and no more deposits. Current users, you've got until August 28 to withdraw your funds. After May 28, all tokens, including Bitcoin, Ether, Solana, Polygon, and Tether, will be delisted. 📉

But don't despair! Gate.HK plans to rise like a phoenix from the ashes, relaunching services after a major platform reconstruction to comply with regulations. They're actively working on it, so watch this space! 🛠️

Meanwhile, another major player, OKX, is also exiting the Hong Kong market. But they assure us, customer funds are safe. After May 31, 2024, customers can only withdraw. 🏃‍♂️

What's your take on these developments? Drop your thoughts in the comments below! 👇 #DeFi #Web3 #CryptoNews