Metamask recently announced the removal of Wyre from its mobile wallet aggregator, as the crypto payments platform shut down.
Metamask, a widely used crypto wallet service provider, announced the termination of Wyre crypto payments amid recent reports of the platform shutting down. In a tweet on Jan. 5, Metamask urged users not to use Wyre as the technical team worked to remove the extension.
Wyre recently started laying off staff, citing the current bearish sentiment and market volatility. While the CEO insisted the company was downsizing, employees confirmed via professional networking platform teamblind.com that Wyre was not viable. A former Wyre technical engineer has expressed his grief on LinkedIn after the layoffs. He denounced the company, saying its profitability was in jeopardy and future growth was highly unlikely.
Wyre was initially valued at $1.5 billion after a series of nine funding rounds, according to Crunchbase. However, the recent bear market and crypto crash affected its performance.
