DeFi projects Zapper and exchange AscendEX shut down one after another The veteran DeFi tool Zapper announced on July 9 that it would be shutting down in an orderly manner, with plans to close its website, mobile app, and API services on August 3. The project served over 2 million monthly active users, handled peak transaction volumes exceeding $13 billion, operated for nearly 7 years, and raised approximately $16.5 million in funding. As the DeFi hype fades, competition among wallets, trading aggregators, and on-chain data tools has intensified, leading to its decision to exit. The veteran centralized exchange AscendEX also officially ceased operations on July 1. Formerly known as BitMax, AscendEX was once one of the leading centralized exchanges. In 2021, it completed a $50 million Series B funding round led by Polychain Capital and Hack VC. That same December, it suffered a hacking incident, losing approximately $78 million. On June 25, 2026, on-chain detective ZachXBT publicly warned about withdrawal delays and liquidity risks. The official statement cited the inability to obtain an EU MiCA regulatory license as the primary reason for the exit. Currently, the platform has closed new account registrations, trading, deposits, and staking functions, leaving only withdrawal services, which require manual review for all requests. Some users have reported delays in processing, with pending claims amounting to millions of dollars, though the exact figure has not been disclosed.