a16z-backed Entropy shuts down, promises investors refunds
Entropy, the cryptocurrency custody startup that raised $25 million from Andreessen Horowitz and other prominent venture capital firms, is shutting down operations after four years and will return remaining capital to investors, its founder announced on X.
Tux Pacific, the company’s founder and CEO, said that the decision followed several business pivots and two rounds of layoffs.
“After four hard years working in crypto, I decided that the best I could do has already been done: it was time to close up shop,” Pacific wrote, adding that the company had been working on a crypto automation platform similar to workflow tools like n8n and Zapier but with blockchain-specific features, including automated signing through threshold…
