Linera halts operations after LNRA token sale misses fundraising target

Layer-1 blockchain Linera said it is suspending operations after its LNRA community token sale failed to meet its fundraising target. Linera co-founder Mathieu Baudet said on Discord that the project would halt operations immediately for the time being after the fundraising effort fell short. Baudet said the token sale on Sonar drew about $900,000 in commitments but did not meet the minimum amount required to finalize the sale, and all committed funds were refunded to participants. He added that the company had tried to secure emergency funding to sustain operations until its mainnet launch but was unable to raise the necessary capital, leading to the decision to shut down the project.