The crypto investment app Pillow plans to suspend all services due to regulatory uncertainty, having previously raised approximately $21 million in funding

ChainCatcher news, according to TechCrunch, the Singapore-based crypto investment app Pillow plans to cease all its services and applications in the coming weeks due to regulatory uncertainty. In a post on Telegram, Pillow urged customers to withdraw all funds from the Pillow app and stated that it would terminate all current services on July 31, 2023.

It is reported that Pillow was founded in 2021 by Arindam Roy, Rajath KM, and Kartik Mishra, with the aim of building a one-stop platform for managing cryptocurrency storage, spending, and investment, allowing customers to invest in cryptocurrencies such as Bitcoin, Ethereum, and Solana. Pillow has raised a total of approximately $21 million. (source link)