▼ Bearish
Linera has announced it is shutting down operations due to a lack of funds. The company's recent Sonar token sale attracted nearly $900,000 but did not meet the minimum threshold, leading to full refunds for participants.
Founded by former Meta researcher Mathieu Baudet, Linera had previously raised approximately $12 million in funding from a16z in 2022 and 2023. The team has expressed hopes to complete the protocol but has not provided a timeline for this effort.
Reporting aggregated and summarized by CLOM — research & education, not financial advice.