Here's an article on this, from The Block:
Nuri cites the Terra/Luna collapse and Celsius’ bankruptcy filing as reasons behind the insolvency
The insolvency is the latest move made by the German firm amid the recent market downturn. In late May, the company laid off 20% of its employees.
Nuri has raised €42.3 million ($43.2 million) in funding over eight funding rounds to date, according to Crunchbase.
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Nuri (Bitwala) has been around since 2015: https://en.wikipedia.org/wiki/Bitwala
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They claim withdrawals (and deposits, and investments, and everything else) are still functioning but there are reports of problems withdrawing. e.g.,
Unable to transfer BTC off your wallet?
But Nuri replied, asking the user to DM for assistance. So maybe they are just insolvent / cash-flow wise, but customers did not lose access to their balances or the ability to transact.
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