Entropy, a16z-Backed Crypto Custody Firm, Winds Down Operations
Entropy, a decentralized custody startup backed by a16z, is reportedly winding down its operations. According to reports, the firm is returning capital to investors after failing to establish a scalable business model. The company's founder, described as "anti-capitalist anarchist", made the decision to close the firm. The development highlights the challenges faced by startups in the decentralized custody space in finding sustainable and scalable business models.
Never miss a Web3 update
Join our Telegram channel to receive news in real-time, straight to your phone.