More than 100 crypto projects have closed or gone inactive in 2026 as users, capital, and liquidity concentrate around a smaller number of platforms.
Four established crypto businesses filed for bankruptcy protection or announced plans to close in late July. The news dealt another blow to tokens that have already been languishing for months.
On July 15, MVMT Labs, the original developer of the Movement network, filed for Chapter 11 bankruptcy protection. Later that month, BitMEX and BitMart began orderly wind-downs. Storj Labs also filed for Chapter 11 but said its decentralized storage services would continue during the restructuring.
The announcements sent the projects’ tokens tumbling. BitMEX Token (BMEX) lost more than 90% after the…
