Assure DeFi to shut down as Web3 downturn hurts KYC business

Cryptocurrency project identity verification provider Assure DeFi said it is shutting down, explaining on X that the Web3 market has not recovered to its previous level for an extended period and the verification business has contracted alongside it. The company said previously issued KYC certifications and audit results will remain valid after the shutdown, while past verification and audit records will stay public and searchable.