Switchboard to shut down operations, halt all services on Sept. 25

Oracle protocol Switchboard said it is winding down operations and will fully discontinue its existing services starting Sept. 25. Core developer Switchboard Technology Labs said it decided to wind down the remaining business after reviewing all possible alternatives. Switchboard said it will immediately deprecate related services following a recent security vulnerability incident and the departure of other contributors and node operators. It urged protocols using Switchboard to migrate immediately to other oracles, including Pyth and RedStone, to avoid service disruptions. Switchboard previously raised $7.5 million in a Series A funding round led by Tribe Capital and RockawayX in May 2024.