According to ChainCatchert's message and incomplete statistics from RootData, a total of 8 projects announced their cessation of operations in the first half of 2024, mainly distributed across DeFi (ClayStack, [Gridex Protocol](https://www.rootdata.com/zh/Projects/detail/Gridex Protocol?k=NjM0Mw== "order book-based decentralized trading protocol"), [Hector Network](https://www.rootdata.com/zh/Projects/detail/Gridex Protocol?k=NjM0Mw== "Defi product ecosystem"),) CeFi ([Yield App](https://www.rootdata.com/zh/Projects/detail/Yield App?k=ODM1NA== "digital wealth platform"), HKVAEX, CommEX,) GameFi ([Eternal Dragons](https://www.rootdata.com/zh/Projects/detail/Eternal Dragons - Trailblazer Games?k=NDY3OQ== "epic fantasy game series")/[Trailblazer Games](https://www.rootdata.com/zh/Projects/detail/Eternal Dragons - Trailblazer Games?k=NDY3OQ== "epic fantasy game series"),) and privacy track (Nocturne.It is worth noting that the GameFi project Eternal Dragons/Trailblazer Games previously raised $8.2 million, the privacy protocol Nocturne, which received support from Vitalik, raised $6 million in seed funding, and the liquid staking project ClayStack raised $5.2 million in seed funding led by CoinFund and ParaFi Capital, with support from Coinbase Ventures, Animoca Brands, The Spartan Group, and others.The main reasons for these projects ceasing operations are quite diverse, primarily focusing on non-systemic risks. ClayStack's cessation was due to a lack of product-market fit during its more than three years of operation; Gridex Protocol stated it failed to secure additional funding from private investors and also faced liquidity issues; Eternal Dragons pointed out that Web3 has brought additional challenges to game design, user experience, and development, increasing costs and risks; while Yield App suffered losses because its assets were previously held on the now-defunct FTX exchange.

ChainCatcher news, according to Cointelegraph, the crypto investment platform Yield App has announced that it will immediately cease all operations on its platform.Previously, Yield App's assets were held by third-party hedge fund managers on the now-defunct cryptocurrency exchange FTX, and suffered portfolio losses, with related lawsuits still ongoing. Although Yield App had previously assured that its exposure to FTX was not significant, this announcement has raised questions about its transparency.Currently, Yield App has suspended community channels, but will remain open to the public through the support channels on its official website.

ChainCatcher news, DeFi asset management platform Yield App announced a partnership with UK real-time payment gateway company Volt, integrating Volt's pan-European open banking solution, enabling seamless access for British pounds and euros. Yield App customers can directly purchase cryptocurrencies instantly through their banks. (Source link)

ChainCatcher news, according to PR Newswire, the DeFi asset management platform Yield App has completed the acquisition of the cryptocurrency structured product provider Trofi Group, meeting the growing demand from investors for enhanced yield investment opportunities, with the specific acquisition amount not yet disclosed. Following the acquisition, Yield App will launch a dedicated investment beta application "Trofi," allowing users to access Yield App's first crypto structured product through four different strategies, including the time-based yield strategy "Dual Currency," the price range-based strategy "Range," and the long investor strategies "Sharkfin" and "Target." (source link)

According to Chain Catcher news and reported by Prnewswire, the crypto yield application Finblox will launch an ICO for the FBX token in the fourth quarter, with proceeds aimed at funding future development and expansion into new markets. Registration for the token sale waitlist is currently open.It is reported that Finblox intends to build the next generation of crypto super applications, allowing users to game, trade, and earn with their cryptocurrencies without leaving the platform. Its investors include Sequoia Capital, Dragonfly Capital, MSA, Kyber Ventures, Coinfund, and Saison Capital. Previously, Finblox announced that it was affected by Three Arrows Capital's liquidity issues, implementing a withdrawal limit of $1,500 per month and suspending reward distributions, while also delaying the referral program and prohibiting the creation of crypto addresses for new registered users. (Prnewswire)