San Francisco-based crypto payments platform, Wyre, has announced its closure after almost a decade in business. Citing financial challenges caused by the bear market, the company stated that the decision to wind down was made to protect the interests of stakeholders and customers. Wyre has initiated the process of selling its assets and has provided a timeline for users to withdraw their funds. This closure comes as another blow to the crypto industry, which has witnessed several companies struggling and shutting down in recent months due to the prolonged bear market conditions.

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