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Syndicate Labs shuts down, causing SYND token to hit new all-time low amid market decline.

Market News
21 May 2026
Tokenpost
View Source
Bearish
pluang ai news

Syndicate Labs, backed by Andreessen Horowitz, announced it is shutting down due to a sharp decline in demand for Ethereum rollup technology. Following the shutdown news, the SYND token dropped to a new all-time low, falling nearly 23% in 24 hours. Despite the closure, governance and token management will continue under a decentralized nonprofit, and the codebase remains open source for potential future development. The shutdown is unrelated to a recent token exploit, with affected users fully reimbursed.

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