According to BlockBeats, the synthetic asset platform Kresko has announced its closure due to the deteriorating health of its founder. The official announcement, made on August 21, stated that after careful consideration and exploration of various alternatives, the team concluded that shutting down the project was the best course of action.

Users are advised to complete asset withdrawals and migrations by September 10. This decision follows a strategic funding round in November last year, where Kresko raised $1.8 million. The funding round was led by Electric Capital and Zero Age Ventures, with participation from WAGMI Ventures, GTS Ventures, Oak Grove Ventures, MH Ventures, and Gui Laliberte.