Crypto’s 2026 shutdown wave claims 82 projects. What went wrong? — SkimNews
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- Stacy Muur identified 82 digital asset projects that have shut down in 2026, including Balancer, Radiant Capital, Neon EVM, and Step Finance, marking an unprecedented wave of closures across DeFi, infrastructure, and Web3 gaming.
- Blast, an Ethereum layer-2 network, announced it would shut down due to no 'credible path' to economic viability, reversing course from a project that once held over $2 billion in deposits.
- Step Finance ceased operations in February following a major treasury breach, while Radiant Capital wound down in June after failing to recover from a 2024 exploit.
- Satori Finance, backed by Coinbase, shut down after determining its revenue could no longer sustain the business, reflecting broader struggles even among well-funded ventures.
- DeFiLlama research found 100 crypto projects announced shutdowns in 2026, with 40 in the prior 90 days, citing lack of product-market fit, depleted funding, and insufficient revenue as top causes.
- DeFiLlama data showed the 82 projects collectively raised ~$1 billion and generated $250 million in fees, with nine raising over $50 million each—yet most still failed to achieve sustainability.
Why it matters: The collapse of well-funded projects like Blast and Radiant Capital—despite combined raises of $1 billion—shows that capital alone can't overcome weak economics or security flaws, reshaping investor expectations and leaving users and investors with stranded assets.
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