Crypto projects shut down as token models fail under pressure
Crypto projects are shutting down as token funding weakens and fragmented structures leave them with limited options to restructure or recover.
A wave of crypto shutdowns is unfolding across the industry this year, hitting projects from trading platforms to analytics tools.
April was no exception, as decentralized email service Dmail said it is shutting down due to high infrastructure costs, failed fundraising and weak token utility.
“In prior cycles, projects could extend runway through new issuance or venture support,” Roshan Dharia, a restructuring advisor and CEO of crypto holding company Echo Base, told Cointelegraph.