Crypto
Balancer Proposes Shutdown Amid Revenue Crisis
Balancer Labs has proposed shutting down its DeFi protocol due to persistent financial struggles following a $128 million exploit in November 2025. CEO Marcus Hardt stated that despite restructuring efforts, revenue failed to recover and monthly income dropped from $1.13 million in October 2025 to just $56,781 by August 2026.
The remaining treasury of over $9 million would be distributed to BAL token holders under the proposed wind-down plan. A governance vote is scheduled for September 25-29 to approve the shutdown. Hardt acknowledged that the exploit had lasting damage on Balancer's reputation and hindered growth efforts.