The shutdown is the latest in a wave of crypto and tech cutbacks driven by weaker demand, tighter funding, and AI pivots.

Syndicate Labs is shutting down after five years, citing a shrinking rollup market dominated by Arbitrum and Base.

Syndicate Labs said that the $330,000 exploit last month is unrelated to the decision to wind down operations.

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…

The shutdown is the latest in a wave of crypto and tech cutbacks driven by weaker demand, tighter funding, and AI pivots.

The crypto industry saw three high-profile projects wind down on Thursday, bringing the total to five major companies that have shuttered in the past week.