Three Blockchain Infrastructure Projects Shut Down on the Same Day as Layer 2 Consolidation Accelerates

Three blockchain infrastructure projects shut down on the same day as Layer 2 consolidation accelerates

Three blockchain infrastructure projects closed their operations on May 21, suggesting rising concern about the sustainability of venture-backed solutions. Syndicate Labs, Everclear (formerly Connext), and ZERO Network each shut down within hours of each other. The shutdowns involve three separate industries that have had substantial venture investments within the period from 2021 to 2022. Syndicate Labs closes after rollup demand dries up Syndi…

CLEAR collapses 48% as Everclear shuts down protocol

Everclear’s announcement of a full operational wind-down sent CLEAR sharply lower in the latest session. Everclear, the cross chain clearing and settlement network backed by firms including Pantera Capital and Polychain, said it is winding down all operations after failing…

Everclear Winds Down After $500 Million Monthly Volume Fails to Pay Off

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Everclear Winds Down Services As Crypto Shutdown Wave Deepens

Everclear is winding down services, adding another crypto infrastructure project to a month already marked by service sunsets, treasury pressure and shutdown notices. The project was built around cross-chain clearing, settlement and liquidity rebalancing, with a focus on reducing fragmentation between chains, bridges, solvers and intent-based applications. Everclear operated as a cross-chain clearing and settlement network for blockchains and di…

Everclear Announces Shutdown: Cross-Chain Settlement Impact

Everclear has announced its shutdown, raising questions about cross-chain settlement, user impact, and what the closure means for the wider DeFi market.Read more...