• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Wyre and EmpireDAO are the upcoming “victims” of the cryptocurrency winter

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

The persistently demanding landscape of the existing cryptocurrency market place continues to clash with crypto payments companies Wyre and EmpireDAO.

Wyre and EmpireDAO are the upcoming two “victims” of the cryptocurrency winter

Wyre lays off workers, downsizing

After virtually a decade of founding, crypto payments enterprise Wyre is on the verge of shutting down, a former worker shared Axios.

Related articles

Hong Kong cryptocurrency exchange Hounax scammed users out of $15.4 million

Hong Kong cryptocurrency exchange Hounax scammed consumers out of $15.four million

November 27, 2023
The son of the president of the European Central Bank "lost 60%" on cryptocurrency investments

The son of the president of the European Central Bank “lost 60%” on cryptocurrency investments

November 24, 2023

Wyre, a cryptocurrency payments enterprise founded in 2013, has advised workers it is shutting down due to layoffs, Axios has discovered. https://t.co/oMl37yTP2u

— Axios (@assios) January 3, 2023

The basic economic downturn coupled with the collapse of various crypto institutions has produced several corporations unviable. According to Axios, Wyre is laying off workers with no incurring any severance spend.

CEO Ioannis Giannaros announced by way of e mail that the enterprise will liquidate and finish companies in January 2023. However, the CEO confirmed to the media that they are nevertheless working, only getting ready to downsize.

Before, Bolt announced the acquisition of Wyre for $one.five billionbut the deal was canceled in September. Wyre has raised $29 million from 9 funding rounds and has attracted the consideration of several significant names this kind of as Samsung Next Ventures, Pantera Capital and Stellar Development Foundation, Crunchy base information.

EmpireDAO cancels workplace rental

The public also located info about the lease termination of Empire DAO’s workplace at 190 Bowery, New York, right after much less than a 12 months of housewarming, raising worries about the failure of this ecosystem.

Founder Mike Fraietta started leasing the constructing in March 2021 and developed an open “WeWork of Web3” workspace. Since then, EmpireDAO has attracted one,500 members and 300 workplace guests each day, in accordance to CoinDesk.

Last month, Fraietta attempted to increase far more dollars from the mob to conserve the day, aiming to increase 205 ETH (virtually USD 250,000). But efforts in the long run failed, the venture only acquiring curiosity from 27 donations, totaling six.71 ETH ($eight,150 USD). This capital will be returned to the investor straight away.

Currently, the founder of the venture is making an attempt to move EmpireDAO to yet another spot for the revival system and come back with DAO portion two. All will be uncovered at approaching cryptocurrency conferences.

Alongside Wyre and EmpireDAO on the checklist of value cutting and corporate restructuring are Kraken, ByBit, GameStop, Amber Group, Paradigm…

Synthetic currency68

Maybe you are interested:

Maybe you are interested:

Tags: CryptocurrencyEmpireDAOvictimsWinterWyre
Share76Tweet47

Related Posts

European Commission Eases Rules on Stablecoins Amid ECB Concerns

by shark
June 26, 2025
0

European Commission plans to ease stablecoin regulations despite European Central Bank opposition, impacting cross-border cryptocurrency transactions.

World Liberty Financial Sets WLFI Token Transfers In Motion

by shark
June 26, 2025
0

World Liberty Financial Inc. prepares WLFI token transfers and stablecoin audit release amid institutional interest.

Bitcoin’s Path to $120K: Inflows and Technical Signals

by shark
June 26, 2025
0

Bitcoin shows potential for a $120K breakout, supported by institutional inflows and technical indicators.

Bit Digital Shifts Focus to Ethereum Staking Strategy

by shark
June 26, 2025
0

Bit Digital pivots to Ethereum staking, exiting Bitcoin mining amid a $150M capital raise.

Finternet Drives Investment with Institutional Support

by shark
June 26, 2025
0

Institutional backing fuels Finternet development, bolstering crypto investments with a $4.9B influx in Q1 2025.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • European Commission Eases Rules on Stablecoins Amid ECB Concerns
  • Best Meme Coins for Exponential Returns: Arctic Pablo, Dogs & Neiro Set to Explode
  • World Liberty Financial Sets WLFI Token Transfers In Motion
  • Bitcoin’s Path to $120K: Inflows and Technical Signals
  • Bit Digital Shifts Focus to Ethereum Staking Strategy
  • TCAT Presale Frenzy + Degen & Coq Inu Insights.
  • Finternet Drives Investment with Institutional Support
  • GameStop Raises $450M in New Zero-Interest Notes
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7