Wyre winding down as crypto winter bites

Cryptocurrency infrastructure provider Wyre is winding down, feeling the pinch of dwindling interest in a market that was once hailed as the next frontier of finance.

The decision, announced in a tweet on Friday, comes months after online checkout company Bolt Financial scrapped its planned $1.5 billion purchase of Wyre.

Since then, the digital asset market has seen a high-profile bankruptcy of crypto exchange FTX and lawsuits from the U.S. securities regulator against Binance and Coinbase Global.