Why is Crypto.com shutting down?

I'm curious to understand why Crypto.com, a prominent player in the cryptocurrency space, is reportedly shutting down. Could it be due to financial difficulties, regulatory pressures, or perhaps a strategic decision to pivot towards a different business model? It's important to clarify the reasons behind this move as it could have significant implications for the cryptocurrency industry as a whole. Could you provide some insight into the reasons behind Crypto.com's decision to shut down?