Three crypto firms — Fantasy.top, Everclear, and ZERO Network — announced they were winding down on Thursday, becoming the latest casualties of a market slump that has already forced a number of companies to close this year. The moves add to a growing tally of crypto businesses folding in 2026 as persistent price pressure and dwindling investor appetite take their toll.
The latest casualties
Each company gave its own reasons, but the common thread is a tough operating environment. Fantasy.top, a platform that had carved out a niche in on-chain gaming, told users it could no longer sustain itself. Everclear, which focused on cross-chain liquidity, cited unsustainable costs. ZERO Network, a blockchain infrastructure provider, said it was shutting down its core operations. None of the firms provided detailed financial breakdowns, but all pointed to the broader market downturn as a key factor.
A growing tally of closures
Thursday's announcements are not isolated. Since the start of 2026, at least a dozen crypto companies have either closed, halted operations, or filed for restructuring. The list spans exchanges, lending platforms, and infrastructure providers. The pattern is familiar: after the 2025 rally fizzled, many firms that had bet on sustained growth ran out of runway when funding dried up and user activity contracted.
What users should expect
Affected users are being directed to withdrawal windows or asset recovery processes. Fantasy.top said it would allow withdrawals for 30 days. Everclear set a two-week grace period. ZERO Network asked users to migrate their assets before the end of June. Anyone holding funds on these platforms should act quickly — missed deadlines could mean locked-up tokens or conversion delays.
The broader picture
The closures underscore a sobering reality for the crypto industry in 2026: the easy-money era is over. Firms that survived the 2022 bear market and then rode the 2024–2025 upswing are now finding that the current slump is longer and more punishing than many anticipated. Whether the market stabilizes or more dominoes fall depends largely on macro conditions — and on whether regulators and investors regain confidence in the sector's fundamentals.
