99 Crypto Projects Shut Down in 2026, RootData Reports
In brief
- RootData identified 99 cryptocurrency projects that formally shut down, filed for bankruptcy, or became inactive in 2026.
- Dead projects span wallets, exchanges (BitMart, BitMEX, AscendEX), and DeFi infrastructure (Zapper, Loopring, Goldfinch).
- Many launched during 2024–2025 bull market when venture capital was abundant and token prices masked weak fundamentals.
- Consolidation follows historical pattern: 2018 ICO crash, 2022 lender collapse—each cycle leaves fewer, stronger survivors.
Scope of the Graveyard
RootData's database compiles businesses that have formally closed, filed for bankruptcy, or become essentially inactive as a result of extended website outages. The list is deliberately broad—it does not discriminate between an exchange filing for bankruptcy and a protocol winding down following a community vote. That distinction matters for context.
The projects mentioned include wallets like Family, Ctrl, and Leap. Centralized exchanges like BitMart, BitMEX, and AscendEX also appear. Infrastructure and DeFi names like Zapper, Stream Finance, Parsec, Loopring, and Goldfinch round out the list. The recent wave of closures spans exchanges, lending protocols, NFT platforms, Layer-2 networks, wallets, AI projects, and developer tools—no single niche bore the brunt.
Why Projects Failed
Thousands of protocols, apps, and startups have been introduced in the cryptocurrency market over the past few years. Many were developed during the bull market of 2024–2025, when venture capital was freely available and token prices frequently supported business models that had not yet produced steady revenue.
The math was simple then. Founders didn't need users or revenue—they needed a narrative and a token. As capital became more selective, teams had to show actual user growth and recurring revenue instead of depending on token appreciation or fundraising rounds. Many were unable to make that transition.
The list's real shock isn't the count. It's the names.
The report's inclusion of well-known brands is probably its most noteworthy feature. Established exchanges and infrastructure protocols that once commanded venture attention now sit in a graveyard. That stings. But it's also clarifying.
Consolidation as Cycle
This isn't new. Every significant expansion cycle in the history of cryptocurrency has been followed by comparable waves of consolidation. After 2018, hundreds of initial coin offerings (ICOs) failed. After the 2022 bear market, centralized lenders collapsed, leaving the industry with fewer but generally stronger players.
The survivors tend to be better capitalized, more disciplined, and genuinely useful. Consolidation isn't failure—it's maturation. The 99 projects on RootData's list represent capital and talent that'll redeploy elsewhere. Some founders will build again. Others will move to traditional tech or finance. The ecosystem recycles.
What matters now is what comes next. The projects that survive this cycle will define the sector's next phase.
