Zapper CEO Announces Orderly Wind Down After 7-Years
Zapper will shut down utterly on August 3, ending its run as a portfolio tracker in decentralized finance (DeFi).
Co-founder and CEO Seb Audet introduced the choice on X, saying the group weighed a number of choices earlier than concluding {that a} managed wind-down made probably the most sense.
Zapper to Close Website, Apps, and API Services on August 3
The CEO mentioned that at its peak, the platform served greater than 2 million month-to-month energetic customers and processed over $13 billion in transaction volume.
The undertaking additionally drew heavyweight backing in its early years. According to CryptoRank data, Zapper raised $16.5 million throughout two rounds, each led by Framework Ventures.
The Series A closed in 2021, elevating $15 million with participation from Sound Ventures and Mark Cuban. The earlier seed spherical landed $1.5 million in 2020, backed by Coinbase Ventures, CoinFund, CoinGecko Ventures, and extra.
Audet framed the closure as “the perfect plan of action.”
“After near 7 years constructing Zapper, I remorse to announce that Zapper can be winding down. We evaluated a variety of totally different choices, pursued some to the fullest extent attainable, and got here to the belief that an orderly wind down is the perfect plan of action,” the post learn.
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What Happens to Users and the Team
The shutdown covers the zapper.xyz web site, Zapper’s cell apps, and its API providers. Existing API customers will obtain an electronic mail to information the transition.
Audet additionally used the announcement to assist his engineers and operations employees discover new roles.
“This is a group that scaled a product to hundreds of thousands of customers and $13B in transaction quantity, with deep onchain engineering experience alongside ops individuals who know find out how to construct and run issues at scale,” he mentioned.
The closure lands throughout a wider retreat throughout crypto. Ctrl Wallet is winding down on the same August 3 date, a part of a broader wave of shutdowns in 2026.
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The put up Zapper CEO Announces Orderly Wind Down After 7-Years appeared first on BeInCrypto.
