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Purse Reverses Decision To Close, Roger Ver ‘In Talks’ With the Company

Sead Fadilpašić
Last updated: | 2 min read

Bitcoin company Purse reversed its decision and decided against closing its doors, after it was thrown a lifebelt in the form of a potential acquisition.

Source: Adobe/Syda Productions

“Several parties – including well known bitcoin advocates, high volume users, and established cryptocurrency companies – reached out with interest in acquiring,” yesterday wrote Purse support manager Eduardo Gomez in an official post on their website writes support manager Eduardo Gomez. He did not elaborate who the potential bidders are. Their website also states that they’ve received “numerous inquiries from parties interested in continuing Purse under new leadership.”

Meanwhile, Roger Ver, prominent Bitcoin Cash (BCH) supporter, said in a video that “Purse is too important for the ecosystem to let it disappear so I don’t think it’s going anywhere. I’ve been in talks with them a lot, so stay tuned for some more news on”

Purse supports both Bitcoin (BTC) and BCH, saying that “Bitcoin has strengths focusing on its use as a store of value, while Bitcoin Cash focuses on low-fee peer-to-peer payments.”

Ver is listed among Purse’s investors, which also includes James Wo, President at venture capital firm Huiyin Blockchain Venture, and Bobby Lee, co-founder and former CEO of one of the world’s first Bitcoin exchanges BTCC and founder of crypto wallet Ballet.

We have contacted Purse and Roger Ver for comment and will update the article should they reply.

Since the announcement that Purse will close, they “have received an incredible outpouring of support from the community, causing us to reconsider our decision.”

A screenshot of the Purse website.

“As we continue to vet new ownership for the platform,” Shop and Earn feature will be functional, Purse said in their short announcement, promising more updates to come. The website further explained that all of their features will remain functional. The news of Purse remaining open was welcomed among their supporters.

Purse enables a savings options with up to 5% discounts on Amazon, allowing Amazon gift card holders to complete somebody’s purchase in return for their BTC or BCH.

As reported a week ago, Purse said that it would close its doors six years after its launch, disabling new signups right away, while keeping its ongoing orders and withdrawals supported until June 26. As soon as it was published, a number of people, including well-known traders and developers within the crypto community, expressed their disappointment that the company has come to that point. As to how they did get there, a theory was that Amazon’s recent commission rates slashes were the last drop in the water for the company that had already been struggling financially. Purse wouldn’t comment on their announcement at the time.