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.
