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a16z-Backed Syndicate Labs Shuts Down After Five Years - "The Defiant"
Syndicate Labs, a startup backed by venture capital firm a16z, announced it will shut down after five years of building blockchain infrastructure. The on-chain development team cited a fundamental shift in the Rollup market and a significant contraction in market size as reasons for the closure. The decision is unrelated to a recent cross-chain bridge exploit, according to the company.
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cointelegraph.com
Syndicate Labs Shuts Down After Ethereum Rollup Market Shift
Syndicate Labs is shutting down after five years, citing a shrinking rollup market dominated by Arbitrum and Base.
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theblock.co
Syndicate Labs to wind down operations after five years, citing rollup market slump
Syndicate Labs said that the $330,000 exploit last month is unrelated to the decision to wind down operations.
