TechFlow News: On January 26, according to The Block, Tux Pacific, founder of Entropy, announced that the decentralized crypto custody startup—previously backed by a $25 million Series A round led by a16z—will cease operations and return remaining funds to investors. Pacific stated that after four years of operation, multiple business pivots, and two rounds of layoffs, the company failed to identify a viable business model scalable for venture capital investment. Founded in 2021, Entropy raised approximately $27 million in total funding and previously focused on developing cryptographic asset management solutions based on multi-party computation.
Add to Favorites
Share to Social Media
