Assure DeFi Is Shutting Down as the Web3 Slowdown Hits Its KYC Business

BitcoinWorld Assure DeFi Is Shutting Down as the Web3 Slowdown Hits Its KYC Business Assure DeFi, a US based company that verified the identity of crypto project founders and audited smart contracts, announced on Thursday that it is closing its doors after more than five years in the business.

In a post shared on social media, the company said that since starting in 2021, it had verified more than 1,500 crypto projects, covering more than 2 billion dollars in total project value. The company said it is no longer taking on any new work.

The company explained the shutdown fairly directly, saying that The Web3 market has not been what it used to be for a long time now, and their verification business shrank along with it. They said they wanted to close the business cleanly rather than let it drag on.

  Assure DeFi confirmed that any KYC certificates or audit results they issued in the past will remain valid even after the company shuts down.