Nevada City, CA — Area company StarTUP abruptly closed its doors yesterday without explanation, leaving both customers and investors scrambling to recover their money. A note posted on its Providence Mine Road office said the business “was permanently closed” and offered no contact information.
Launched as the darling of the local startup industry, StarTup recently converted its stock to Bitcoin and made it available only to locals. As a result, interest in the small firm skyrocketed as it rode the coattails of the cryptocurrency market. Although no one was sure precisely what StarTUP made or sold, area investors pumped as much as $2 million into the mysterious business.
According to archived versions of its webpage, StarTUP originally started selling used Ford Taurus and struggled for years until it found its calling in cryptocurrencies in 2016. Several investors claim the closure was due to the coronavirus, Obamacare, and communism. However, most experts agree that the company collapsed because of shitty advice from local financial radio programs and produced nothing of value.