Crypto’s 2026 shutdown wave claims 82 projects as revenues fall

The concentration of closures in DeFi, infrastructure and gaming points to a structural squeeze rather than isolated failures: these are the segments most dependent on continued token revenue and fresh funding, so a downturn in both leaves little cushion. Security breaches compounding the revenue and capital pressure is the more telling detail, since it suggests some projects are being pushed out by incidents they cannot absorb financially. Whether the shutdown rate keeps pace through the rest of the year, and whether surviving projects consolidate around stronger revenue models, is the open question worth watching.