Omni Rentals to Shut Down 

Hey ninjas, how’s the trading going? On the day, the majority of the top 20 cryptocurrencies are reporting losses. The largest cryptocurrency Bitcoin is trading at $7,132 and reporting losses of 1.17%.

The second-largest cryptocurrency Ethereum is also reporting daily losses of 0.17% and is trading at $146, XRP is also down 0.71% on the day and is trading at $0.21 at press time. 

According to a publication by TechCrunch on the 25th of November, $35 million funded startup Omni Rentals will reportedly be closing down by the end of 2019. The startup is backed by Ripple, Ripple reportedly gave Omni a sum of $25 million in early 2018 for its white-label service project but it is still unclear if Omni plans to return its raised funds to investors.

Though Omni has not made an official announcement on its closure an anonymous spokesperson of the company told TechCrunch that Omni plans to shut down the platform at the end of the year.

The company was reportedly experiencing difficulties finding customers earlier in the year and was in conversation with Coinbase about hiring the Omni engineering team in October though what the team would be working on was not made clear. Coinbase will reportedly be hiring about 10 of Omni’s engineers.   

Don’t always forget to holla at Ninja Discord anytime to talk about cryptocurrency. You can as well check out our exclusive Ninja coin giveaways and Trading View analysis.  


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