Cryptocurrency payment provider Wyre is reportedly shutting down

ChainCatcher news, according to Axios, the crypto payment provider Wyre is reportedly shutting down. A former employee cited an email from Wyre CEO Ioannis Giannaros stating that the company will liquidate and terminate services as soon as possible this month. Another former employee mentioned that the company did not provide any severance pay. However, Giannaros responded to Axios that the company is still operating and plans to downsize in the near future.

ChainCatcher previously reported that in December 2022, Wyre, the exchange service provider for hardware wallet Ledger, was suspected of "arbitrarily" freezing user funds, with users reporting that funds exchanged on the Wyre platform went missing without explanation. (source link)