🚨 A16Z-BACKED LAYER 1 PROJECT LINERA JUST SHUT DOWN

Linera raised a total of $12M, and it still wasn't enough to launch mainnet.

What happened in just a few days:
- Sept 9: Community token sale drew only ~$848K USDC, below the $1.5M USDC minimum → all funds refunded
- Emergency fundraising efforts → failed
- Sept 18: Founder Mathieu Baudet announced on Discord: operations cease immediately

The team says the cause wasn't the tech or the community. It was funding.

The takeaway: having a16z behind you doesn't guarantee the market will buy in before there's a product or revenue.

What do you think: is the market getting too tough, or has the shine worn off new L1s? 👇

Explore more news → cryptothreads.io/news/

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