The layer-1 network Linera ceased operations on September 18, 2026. The project failed to reach its minimum fundraising target of $1.5 million during a community sale on the Sonar platform. Participants pledged $848,271, which the team subsequently refunded. Linera had previously secured $12 million in two seed rounds led by a16z crypto and Borderless Capital.
Following the closure, Linera is shutting down its application and Discord server. While the team plans to keep records of user point balances, they stated they cannot guarantee any future utility for these points. The company noted that despite the shutdown, they still aim to complete the protocol and launch applications at some point in the future.
Switchboard Technology Labs announced the wind-down of its operations on September 19, 2026. The company advised developers to migrate to alternative providers such as Pyth or RedStone. Support for the protocol is scheduled to terminate on September 25, 2026. The team cited recent exploits and broader market conditions as primary factors for the decision.
Switchboard attributed the closure to the current bear market, which has reduced budgets and slowed the launch of new chains. Additionally, the team noted that advancements in AI tools have lowered the costs associated with building oracles. According to data from RootData, more than 260 crypto projects have ceased operations or faced bankruptcy in 2026.
