Blast Shuts Down Due to Unsustainable Operating Costs, Requests User Withdrawals

Blast, an Ethereum Layer 2 network, has announced its shutdown due to unsustainable operating costs. The project cited financial difficulties, stating that ongoing expenses exceed revenue generated by the network.

The decision requires users to withdraw their assets from Blast to the Ethereum mainnet by October 26. A reduced 24-hour delay for withdrawals will facilitate this process.

Blast had entered early access in November 2023 after raising $20 million from investors including Paradigm and Standard Crypto. However, the project now sees no credible path toward economic sustainability.