Wave of Crypto Project Shutdowns: AscendEX, Zapper, YGG Play Announce Cessation of Operations

AscendEX announced yesterday that it will cease operations, citing market conditions and the impact of the EU's MiCA regulation; DeFi tool Zapper will shut down its website, app, and API on August 3; YGG Play will stop operations on August 1 and lay off 35 positions.

Despite a market rebound, the industry remains under pressure from a bear market, with weak funding, financing, and user growth, making it difficult for multi-track projects to sustain operational costs.

Source: Public Information