- Crypto researcher Stacy Muur documented 82 crypto project shutdowns in 2026.
- At least 60 crypto companies announced layoffs in 2026, surpassing the previous annual record.
- Market pressure, corporate restructuring, and AI adoption are driving changes.
Crypto researcher Stacy Muur has compiled a list of 82 crypto protocols and projects that have shut down in 2026.
In a post on X, Muur said she had documented 82 shutdowns year-to-date, adding, “I’ve never seen anything like this before.”
The list includes projects in DeFi, infrastructure, gaming, wallets, and other Web3 services. Names such as Blur, Blast, Loopring, Polygon zkEVM, Swell, Radiant Capital, Angle Protocol, Magic Eden Wallet, and Step Finance appear in the compilation.
The number points to pressure in multiple parts of the crypto ecosystem.
Crypto Layoffs Also Reach Record Levels in 2026
The reported shutdowns come as crypto companies continue to cut jobs and restructure their operations. According to data cited from CryptoJobsList earlier this month, at least 60 crypto, Web3, and blockchain companies had announced layoffs in 2026. That surpassed the previous annual record of 38 companies in 2023.
The figures point to a difficult operating environment for businesses across the sector. However, layoffs and shutdowns measure different things. A company can reduce its workforce and continue operating, while a project can close without announcing layoffs.
The two trends nevertheless raise questions about whether some crypto businesses can sustain their operations amid a bear market and a changing business environment.
AI, Cost-Cutting, and Restructuring
Market conditions are not the only reason crypto companies are changing. Many are cutting costs, reorganizing teams, and using AI to improve productivity.
According to CryptoJobsList’s layoff data cited in the October 3 report, market conditions were mentioned in 27 announcements, restructuring in 22, and AI in nine. This suggests that layoffs are driven by both market challenges and internal changes.
Is Crypto Facing a Crisis?
The growing number of crypto project closures raises concerns about the industry’s future, but it does not necessarily mean the entire sector is in decline.
Crypto businesses have different funding sources and levels of demand. Some shut down because they lack customers or money, while others close products, merge operations, or shift their focus.
A project shutdown also does not mean its underlying blockchain, token, or technology has disappeared. Likewise, a company can close a product or service and continue operating. The main question is whether these closures are isolated cases or signs that crypto businesses are struggling across the industry.
Related: Crypto Adoption Is Growing. So Why Are Crypto Companies Laying Off Workers?
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