Crypto’s 2026 shutdown wave claims 82 projects. What went wrong?

Crypto projects are struggling to survive as falling revenues, depleted funding and security breaches force closures across DeFi, blockchain infrastructure and gaming.

Crypto researcher Stacy Muur has identified 82 digital asset projects and protocols that have reportedly shut down in 2026, raising questions about the financial sustainability of businesses across decentralized finance, blockchain infrastructure and Web3 gaming.

The list, published on X on Tuesday, includes Balancer, Radiant Capital, Neon EVM and Step Finance, among dozens of others. Muur described the number of closures as unlike anything she had previously witnessed.

The shutdowns follow a prolonged bear market, with Bitcoin (BTC) retreating from its October 2025 record high above $126,000 to below $60,000 earlier this year, adding to the financial strain on projects already struggling to attract users and generate revenue.

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