DL News announces it will shut down at the end of May. The media outlet was launched by the DefiLlama team in 2022, originally planned to develop into an independent profitable crypto news business but failed to achieve sustained commercialization. DL News states that after internal conflicts within DefiLlama in early 2023, both parties' operations gradually separated, and the media business lacked effective traffic and distribution support; at the same time, crypto media traffic continued to decline, and AI also accelerated the deterioration of search traffic and content distribution environments. Although its research business, DL Research, saw a 270% year-over-year revenue increase in 2025 and achieved seven-figure annual sales, it was still insufficient to cover overall operational pressures. DL News says the company began layoffs in mid-April and notified employees on May 1st that it would officially close at the end of the month.