Syndicate Labs Shuts Down as Crypto Cuts and Closures Mount

60-second summary

Syndicate Labs is shutting down, the latest casualty in a wave of crypto and tech cutbacks driven by weaker demand, tighter funding, and AI pivots, with 2023 already seeing over 100 crypto startups fold, as investors reassess risk and pivot towards AI and Web3 opportunities, further exacerbating the crypto market's already dire funding landscape.