Crypto Shutdown Wave Claims 82 Projects in 2026 Amid Funding Crunch

crypto shutdown wave — At least 82 crypto projects have shut down in 2026, according to new research, as a prolonged bear market and dried-up funding strain the industry.

Researcher Stacy Muur published a list on X this week detailing the closures across decentralized finance, blockchain infrastructure, and Web3 gaming. Prominent names on the list include Ethereum layer-2 network Blast, which cited no “credible path” to viability, and Coinbase-backed Satori Finance, which closed after concluding its revenue could no longer support operations.

The shutdowns follow Bitcoin’s sharp decline from its October 2025 record high above $126,000 to below $60,000 earlier this year. Separate research from DeFiLlama identified 100 projects that have announced shutdowns in 2026, with the most common reasons being a lack of product-market fit, depleted funding, and insufficient revenue.

Collectively, the shuttered projects had raised approximately $1 billion and generated $250 million in fees, with nine raising over $50 million each. The data suggests that even substantial financial backing offers little guarantee of long-term survival in the current market.