<p>Hong Kong-based blockchain remittance firm Bitspark is closing operations next month.</p> <p>Bitspark CEO George Harrap <a href="https://www.bitspark.io/blog-posts/dear-bitspark-community">announced</a> the news in a blog post on Monday, saying that customers have until March 4 to withdraw their funds. After that, users can withdraw their funds via Bitspark customer support for a further 90 days.</p> <p>Founded in 2014, Bitspark is shutting down due to “internal restructuring,” said Harrap, adding that Hong Kong protests and coronavirus also weighed in on the decision.</p> <p>The restructuring included Bitspark co-founder and COO Maxine Ryan quitting from her role. "As of a month ago, I made the decision to step down from my position as COO of Bitspark. This naturally caused a need to restructure the company which unfortunately landed this result,” Ryan <a href="https://twitter.com/MaxieRyan/status/1224462654158200832">wrote</a> on Twitter.</p> <p>“While I hoped the company would continue especially due to the MOM [month on month] growth, it was determined that due to its inconstancy it wasn’t predictable enough to continue,” she added.</p> <p>Bitspark saw a 400% MOM growth after releasing its Cash Point product last year, per the blog post.</p>