Dango, the layer-one blockchain startup, is shutting down its entire network by August 13th after halting trading on its perpetual DEX this Wednesday, citing cash shortages, legal hurdles, market conditions, and lack of commercial success — just four months after launching mainnet with $3.6M in seed funding and recovering from a $410K exploit. With open interest under $400K compared to giants like Hyperliquid’s $11B, Dango joins a growing wave of crypto projects folding this summer, as regulatory pressure and liquidity consolidation make survival tougher for mid-sized exchanges.
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