CEO of BitGo Mike Mike released a statement:
“Although we strongly believe in the need for a larger blocksize, there is something we
believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x.”
The news is having a major impact on the market as everyone tries to reconfigure their portfolios.