Shutdown Fears for Wyre

Shutdown Fears for Wyre

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Mike
Mike

An editor at Coincrop


06 Jan 2023 | 2 min read
11,968 views

R

eports of Wyre's shutdown led to MetaMask withdrawing the company from their aggregators. Last year, Bolt had intended to acquire Wyre for a remarkable $1.5 billion - however, that transaction never came into fruition in the end.

In light of reports that Wyre crypto payment platform intends to close its operations, MetaMask, a cryptocurrency wallet provider is ceasing support for the services provided by Wyre.

On January 5th, MetaMask shared a tweet that they have taken Wyre out of their mobile aggregator, an instrument which makes it possible for customers to acquire crypto via the digital wallet.

MetaMask issued a statement warning users not to use Wyre on the mobile aggregator: "We are currently working on extension removal and appreciate your patience."

Just shortly after Ioannis Giannaros, Wyre CEO, informed employees that the company was soon to close down operations, news broke of this major decision. “We'll continue to do everything we can, but I want everyone to brace themselves for the fact that we will need to unwind the business over the next couple of weeks,” reportedly stated by Giannaros.


Mike

Mike

An editor at Coincrop
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Mike is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.


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