Coinbase-Backed Router Protocol Closes Down Amid Crypto Market Shift
Router Protocol, a cross-chain infrastructure project backed by Coinbase Ventures, has announced its closure. The team will shut down all operations by September 30, 2026.
The decision to close comes after over four years of building tools that enable assets to move between different blockchains. Despite efforts to commercialize, license, or sell its technology, none resulted in a sustainable business model.
Router blamed two main trends for its decline: the shift of investment capital away from crypto and into artificial intelligence, and the decrease in bridging fees due to falling costs.
As part of the wind-down, Router will burn 303 million ROUTE tokens, approximately 30% of the total supply. The team also plans to work with centralized exchanges to delist the token and remove support for it.