Search results for Step Finance
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.
Crypto
Jito Foundation acquires Solana ecosystem data, journalism platform SolanaFloor
Jito Foundation has acquired SolanaFloor, a data and journalism platform in the Solana ecosystem, and will restart operations that were suspended after a security incident earlier this year, Cointelegraph reported on March 10. SolanaFloor closed after its parent company Step Finance suffered a $4 billion treasury wallet leak. Jito Foundation plans to revive the platform while keeping its independent reporting function. SolanaFloor editor-in-chief Awais Abzal said the existing editorial team will remain and continue independent editorial operations.
