Linera and Switchboard Shut Down a Day Apart Amid Bear Market
- —Linera raised $12 million across two seed rounds with backing from a16z crypto and Borderless Capital
- —The Sonar sale attracted $900,000 instead of the minimum $1.5 million USDC
- —Switchboard ends support on September 25 and advises migrating to Pyth or RedStone
- —RootData: more than 260 crypto projects have closed in 2026
Why it matters: The wave of L1 and infrastructure shutdowns shows the bear market is squeezing out weak teams even with venture backing.
Source: BeInCrypto IT