In latest crypto news, Kadena (KDA) has dropped more than 60% after the company behind the blockchain said it is shutting down.
The announcement on October 22, 2025, said all business activities will stop at once. The news has shaken investors and sparked plans for a global class action lawsuit.
Kadena Shuts Down Its Business Operations
Kadena, a blockchain project founded by former JPMorgan engineers Stuart Popejoy and Will Martino, has announced that it will no longer continue business operations.
According to the update, the company said it is closing all activities and will stop maintaining or promoting the Kadena blockchain.
In a public post on X, the company said that market conditions made it impossible to keep running.
The team confirmed that all staff have been informed of the shutdown, and only a small group will stay on to manage the transition.
Kadena also said that the blockchain itself will continue because it is decentralized. This means that independent min
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