Over 60 crypto projects, including a16z-backed firms, shut down this year

More than 60 cryptocurrency projects have shut down so far this year, with the number continuing to grow, Wu Blockchain reported, citing data from Web3 platform RootData. The top three defunct projects by investment amount were all backed by Andreessen Horowitz (a16z): Yupp ($33 million), Syndicate ($27.8 million), and Entropy ($26.95 million).