Binance News: Linear Finance Shuts Down Amid Financial Struggles and Binance Delisting

In a significant development in the cryptocurrency world, Linear Finance, a decentralized asset protocol, has announced the cessation of its operations. The move comes after prolonged financial difficulties and the impact of Binance delisting its native token LINA.

Linear Finance Shuts Down Due to Financial Struggles and Binance Delisting

Linear Finance, a decentralized asset protocol, has announced the cessation of its operations due to prolonged financial difficulties and the impact of Binance delisting its native token LINA. Despite years of development, the project failed to generate sustainable revenue and struggled after its initial profitability period. The final blow came when Binance delisted LINA, triggering a sharp 65% decline in the token’s market capitalization. The project was primarily funded through personal contributions from its founder and token liquidations, which proved to be an unsustainable model.

Market Manipulation: Hyperliquid and Binance Involved in JELLY Token Case

The collapse of FTX is still fresh in the minds of the crypto community, and now another scandal has emerged. Hyperliquid, the issuer of the HYPE token, is at the center of a manipulation case involving the JELLY token. A crypto trader artificially pumped the token’s price on Hyperliquid, causing significant losses to the platform’s vault. This incident has reignited concerns about unregulated finance in the crypto world.