Crypto Payments Platform Wyre Shuts Down Citing Bear Market Conditions

Wyre has begun the liquidation process and noted that interested parties can now begin to inquire about purchasing the assets of the company.

San Francisco-based crypto payments company Wyre shuts down after nearly 10 years in business, citing bear market financial challenges, and nothing to do with hawkish “regulatory agency leadership” United States.< /p>

In a June 16 blog post, the company said it had made the difficult decision to step down in order to “best protect the interests of our key stakeholders and customers.”

"Wyre continues to secure customer assets. If you have assets on the Wyre platform, you can continue to remove them through the Wyre Dashboard until Friday, July 14. After that, we will have a process separate to retrieve the remaining assets on the platform,” the company said.

After almost a decade, Wyre is coming to an end. Due to market conditions, we have made this decision to best protect the interests of our key stakeholders and customers. This decision is not due to any directive from a regulatory body. Wyre continues to secure customer assets.

The Wyre team also suggested that its assets are now for sale, noting that: "If you are interested in acquiring the assets of Wyre or its subsidiaries, please contact 88 partners."

The company has reportedly gone around the drain since one-click payment company Bolt canceled plans to acquire Wyre for...