The trading platform Ankex under Qredo has been closed, and the former CEO of GGC has left

ChainCatcher news, according to The Block citing informed sources, the DeFi infrastructure platform Qredo is facing financial difficulties, and its incubated hybrid cryptocurrency exchange Ankex has recently been shut down. Some content on the Ankex website is still operational, but other content (including links to registration, login, and support pages) is no longer accessible. Michael Moro, the former CEO of Genesis Global Capital, was hired to operate Ankex in April this year and has since left.

According to the crypto data platform RootData, Qredo completed a $80 million Series A financing round in February this year, with a valuation of $460 million. In September this year, Qredo laid off about 50 employees to cut annual expenses by 35%. Subsequently, Qredo also laid off 50% of its workforce in November.