Crypto startup Entropy to shut down

Cryptocurrency startup Entropy has announced it is shutting down. According to Cointelegraph, Entropy founder and CEO Tux Pacific stated on X that the business is no longer sustainable. Pacific explained that after four years, multiple pivots, and two rounds of restructuring, the company has decided to cease operations and return the remaining capital to investors. Entropy launched a decentralized self-custody solution in 2021 and secured funding in 2022 from investors including Coinbase Ventures and a16z.