Juno encourages users to withdraw funds as crypto partner set to shut down

Quick Take

  • Juno encouraged its clients to withdraw crypto assets from the platform after news came out that its custody partner might be about to shut down.

Crypto on-ramping service Juno encouraged users to withdraw their cryptocurrencies from the platform because its payment partner, Wyre, may be about to shut down.

The news comes after Wyre started doing layoffs, with two former employees telling Axios that the company plans to shut down this month.

Juno recommended that its users withdraw their funds to their own self-custody wallets or sell them for fiat currency on its platform.

After informing its clients to do so, the amount of crypto assets held on the platform has fallen to $1.25 million.

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