Due to the ongoing downturn in the crypto market, pressure on user activity and investor financing, at least five crypto companies announced shutdowns or bankruptcy filings this week. Crypto trading card platform Fantasy Top, cross-chain infrastructure project Everclear, and Ethereum Layer 2 network ZERO Network all announced gradual shutdowns on Thursday, citing reasons such as failure to find a suitable market position or insufficient revenue; Ethereum infrastructure company Syndicate Labs also announced closure this week, while Bitcoin ATM operator Bitcoin Depot filed for bankruptcy protection in the United States on Monday. (Cointelegraph)

ETH-4.47%
ZERO2.59%
SYND-1.02%
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PerpColdHands
· 27m ago
The cold winter continues, prepare dry food.
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Miner'sOldKeyboard
· 2h ago
Layer 2 bubbles burst, only the truly useful ones remain
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0xTeaTime
· 3h ago
Cryptocurrency ATMs have always been controversial; it's normal for offline scenarios to decline.
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GateUser-4eae4cef
· 6h ago
Syndicate Labs, which builds infrastructure, can't hold up; monetizing developer tools is too difficult.
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HotAirBalloonCrossingMountains
· 6h ago
Five companies collapsing at the same time indicates it's not an isolated case, but a systemic purge.
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TvlDownBad
· 6h ago
This week's death toll is longer than all of last month combined.
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GateUser-14cb5f72
· 6h ago
Bitcoin Depot physical ATMs face regulation + shrinking demand, a double blow
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BlueLakeOverlooker
· 6h ago
Everclear 跨链桥也没了? interoperability 赛道太卷
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KiteStringQuant
· 6h ago
The financing environment is poor, and the approach of relying on storytelling to survive is no longer working.
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LiquidityLibrarian
· 6h ago
During a market downturn, projects without cash flow will all die, no matter how fancy their concepts are.
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