Cointelegraph reported that as the prolonged cryptocurrency bear market led to a sharp decline in users and investment inflows, five projects announced the cessation of their operations this week alone. The specific project names include: △Ethereum infrastructure provider Syndicate Labs △cryptocurrency ATM Bitcoin Depot (BTM) △card trading platform Fantasy.top △cross-chain infrastructure Everclear △Ethereum Layer 2 Zero Network. The media outlet added, "More than 5,000 job losses have occurred across the entire cryptocurrency industry this year, and major listed companies such as Coinbase (COIN) and Galaxy Digital (GLXY) also announced first-quarter losses. Conversely, services that integrate traditional financial products into blockchain, such as Hyperliquid (HYPE) and Polymarket, or those with existing demand, continued to show growth."
