Search results for Balancer Labs
Crypto
Balancer confirms protocol shutdown, withdrawals only from late October
The Balancer community has approved a proposal to end operations of the DeFi protocol and proceed with an orderly wind-down. The proposal, BIP-928, passed, while a separate plan to continue the protocol via a fork, BIP-929, failed. Existing pools will operate normally until Oct. 30, when eligible pools will shift to withdrawals only. The bug bounty programme ends the same day, and V3 vaults stop on Nov. 30.
Crypto
Crypto firms face wave of closures as bear market cuts trading and investment
A prolonged downturn in the crypto market is driving restructurings and business closures, with at least five firms this week announcing service shutdowns or bankruptcy steps. FantasyTop, Everclear and Zero Network outlined plans to halt operations, while Syndicate Labs said it would close and Bitcoin Depot entered U.S. bankruptcy proceedings. The moves have highlighted worsening liquidity and profitability pressures, even as investor interest concentrates in a few areas.
AI & Enterprise
Syndicate Labs, an Ethereum rollup startup, to shut down after 5 years
Syndicate Labs, an Ethereum rollup infrastructure startup, will shut down after five years, Cointelegraph reported on May 21. The company said the rollup market had fundamentally changed, with more rollups quietly closing as new ones emerge. Syndicate Labs developed custom Ethereum appchains and smart sequencers and raised $20 million in a Series A led by Andreessen Horowitz in 2021. Data showed Layer 2 rollup TVL has fallen after peaking above $50 billion.
