Everclear, ZERO and Others Shut Down Amid Crypto Slump
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- Everclear announced it is winding down the Everclear Foundation and Everclear Labs after failing to achieve commercial depth, exploring acquisitions, and will consider open‑sourcing its protocol.
- ZERO Network posted that it is shuttering its blockchain to concentrate on its sister wallet and data service Zerion, stating the world needs better access to existing chains rather than more blockchains.
- Legend revealed on May 13 that its crypto mobile superapp is shutting down, adding to the recent wave of crypto firm closures.
- Balancer Labs confirmed it is closing the Balancer protocol team, citing market slump and fallout from hacks as reasons.
- Kalshi recorded a combined April volume of $23.8 bn with Polymarket, while CoinDesk warns Congress is moving to ban prediction markets over national‑security concerns.
Why it matters: Investors and users lose access to several crypto services as Everclear, ZERO Network, Legend, and Balancer shut down, while regulators gain leverage to target high‑volume prediction markets that moved $23.8 bn in April, prompting possible bans.
