Multichain

Prime

Yield

Read

SafeMoon

<div class="cryptonews">
 <p class="is-style-lead">RootData, a provider of visual and structured data on companies in the digital finance industry, has published a list of deceased crypto projects that failed to make it through 2023.</p>
 <p>The biggest names to make the list were Prime Trust, Yield Protocol, Wyre, Multichain and Clockwork. In total, the RootData list included 116 crypto projects that announced their closure or bankruptcy in 2023 and had inactive Internet resources for a long time.</p>
 <p>RootData analysts note: in total, the funds previously allocated for creating and financing “dead <a rel="noopener noreferrer nofollow" title="projects" href="https://thebittimes.com/tag/projects.html">projects</a> of 2023” exceeded $940 million.</p>
 <p>The most difficult period and the peak of the most high-profile fiascoes was the second half of 2023. At the end of June, amid the consequences of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> winter and Bolt Financial’s refusal to purchase, the Wyre payment platform closed. In July, after the arrest of its founder and a series of hacks, Multichain went bankrupt.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> SafeMoon seeks bankruptcy amid arrests and SEC allegations
 </div>
 <p>In August 2023, due to financial problems, the custodial service Crypto Custodian Prime Trust announced its bankruptcy. At the same time as Prime Trust, the Solana blockchain-based smart contract automation <a rel="noopener noreferrer nofollow" title="project" href="https://thebittimes.com/tag/project.html">project</a> Clockwork <a rel="noopener noreferrer nofollow" title="ceased" href="https://thebittimes.com/tag/ceased.html">ceased</a> to exist due to “limited commercial potential.”</p>
 <p>October saw the closure of DeFi crypto lender Yield Protocol, which announced that the cessation of operations was due to a “lack of regulatory safety and sustained demand for fixed-rate borrowing.”</p>
 <p>At the same time, 2023 was the year of recovery of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market. Its capitalization has more than doubled in 12 months, rising from $830 billion to its current $1.66 trillion. Bitfinex analysts expect the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market capitalization to reach as much as $3.2 trillion in 2024.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> FTX faces US officials’ tax claims prior to compensation of bankruptcy victims
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/exploring-failed-ventures-rootdata-publishes-list-of-deceased-crypto-projects-tbt75284.html">https://thebittimes.com/exploring-failed-ventures-rootdata-publishes-list-of-deceased-crypto-projects-tbt75284.html</a></p>

Exploring failed ventures: RootData publishes list of deceased crypto projects

TheBitTimes

Altri articoli pubblicati su 1 gen 2024

MATIC Price Gives A Retest Entry Chance, Should You Take It?

Global crypto ATM network shrunk more than 5,700 in 2023

Ethereum Price Could Start 2024 With A Strong Increase If It Holds This Support

Bitcoin and Cryptocurrency News to Follow in 2024!

Altcoin NFP Team Responds to Web2 Wallet Service Issues and Prioritizes User Fund Safety

Things Crypto Users Must Know Before Buying Ethereum Using Paypal

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!