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.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
TAGS
AUTHOR
Tim Copeland is the Head of Growth at The Block and host of The Crypto Beat, a live-streaming podcast. He was previously the company's Editor-in-Chief and spent seven years covering the industry as a journalist. Prior to joining The Block, Tim was a news editor at Decrypt. He earned a bachelor's degree in philosophy from the University of York and studied news journalism at Press Association Training. Follow him on X @Timccopeland.
See More
