In 2025, many decentralised finance (DeFi) projects stopped operating.
Crypto influencer Greenbutred listed Linear Finance, ZK Lend, Loopring DeFi, Delv, Kinto and Minterest as DeFi projects that closed in 2025.
The projects shared problems including low usage, depleted token liquidity, hacking losses, delistings and worsening market conditions.
Influencer Stacy Muur pointed out that many DeFi protocols with almost no revenue are barely maintaining their presence. She cited projects with less than $3,000 in fee income over the past 30 days, including EtherVista, Wombat Exchange, Saros, Equalizer, Skate, SparkDEX, Honeyswap and Moonwell.
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Chi-gyu Hwang
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