Crypto intelligence firm TokenAnalyst has shut its doors, the company announced Tuesday.
The group said in a Medium post it would stop supporting its platform and application programming interface (API), and a flashing note on the company's website says, "The data on this site does not refresh anymore." The blog post did not give a reason for the shutdown, though it did say some of the team's members will be joining Coinbase, the San Francisco-based crypto exchange.
"Our mission was to bring transparency to the decentralized world, and we believe we made significant progress towards this mission," the post said. "We built a host of tools that made blockchains easier to understand for our users, and we hope you enjoyed using our data and services as much as we enjoyed building them."
A Coinbase spokesperson confirmed several members of the TokenAnalyst team would be joining.
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"We remain committed and driven towards creating an open financial system for the world and we think that Coinbase is a fantastic place to do that," the Medium post said.
TokenAnalyst was founded in October 2017, just as the initial coin offering boom and crypto prices surged that year. It had a handful of employees – at least six, according to LinkedIn – including its founders, Jai Prasad and Sid Shekhar. Both joined Coinbase, according to their Twitter biographies.
"It was truly invigorating to tweet/WhatsApp/Telegram/email/Signal 24/7 with crypto enthusiasts from all over the world. It was your incredible support, encouragement and passion that kept us going and motivated," the blog post said.