Hong Kong Economic Journal, citing RootData statistics, reported that more than 100 cryptocurrency projects announced shutdowns, bankruptcy, or indefinite suspension of services in the first seven months of 2026. The article, relayed by ChainCatcher, stressed that the actual closure count may be higher, because many projects never issued formal announcements and instead faded away quietly. It further said the closure wave is not restricted to one niche, but has spread widely across exchanges, wallets, DeFi protocols, DAO tools, Layer 2 networks and infrastructure projects, forming a sector-wide trend. The column’s takeaway, based on RootData’s tracking figures, is that the recorded shutdowns are merely a floor and the real toll is probably larger. In other words, a project that simply goes silent still counts as a failure in practice, even if no one files a formal notice. The column presents this as a wave across the whole industry.
A column published by Hong Kong’s established financial newspaper Hong Kong Economic Journal and relayed by ChainCatcher said more than 100 cryptocurrency projects had announced shutdown, bankruptcy, or indefinite suspension of services in the first seven months of 2026, citing data from RootData.
The column said the true number of failed projects is likely higher because many teams disappear without formal announcements. It also said the current wave is not limited to a single niche, but has spread across exchanges, wallets, DeFi protocols, DAO tools, Layer 2 networks and infrastructure providers, pointing to a sector-wide shakeout.
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