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Last week, Kitco Crypto covered the struggles at Wyre, which was reportedly preparing to wind down its services by the end of January after CEO Ioannis Giannaros sent an email to employees informing them that he planned to liquidate the company and would terminate services by the end of the month. “We received financing from a strategic partner that allows us to continue our normal course of operations,” the company wrote on Twitter. “As a regulated financial institution, we’re proud that we were able to continue delivering our services in a safe and sound manner without pausing withdrawals. We will resume accepting deposits and lift the 90% withdrawal limit effective immediately.”
Wyre was founded in 2013 by Ioannis Giannaros and Michael Dunworth and provides payment infrastructure for crypto applications and supports services like custody wallets, transfers and swaps, and know-your-customer onboarding. Some of the early investors in the platform include Kraken, Pantera Capital, Stellar Development Foundation and Samsung NEXT and Draper Associates.