Wyre said to shut down as CEO admits company "scaling back" \ stacker news ~bitcoin

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Wyre said to shut down as CEO admits company "scaling back"www.axios.com/2023/01/03/wyre-shutdown-crypto-winter

199 sats \ 6 comments \ @ExponentialBTC 4 Jan 2023 bitcoin

26 sats \ 1 reply \ @k00b 4 Jan 2023

Anyone use this service? Never even heard of it.

338 sats \ 0 replies \ @cryptocoin 4 Jan 2023

You've certainly used (or know of) a product or service where there was a "Buy" button that was actually Wyre's whitelabel "fiat onramp" service -- essentially a widget they add to their website, or a couple API calls from an app.

Mostly used for ACH (US) and SEPA (EU).

The wallets add this and earn a commission on each sale that occurs.

Others in the "fiat onramp" API space are:: MoonPay, Ramp Network, SimplexCC, Transak, Mercuryo, OnRamper, Banxa, and a handful of other smaller ones.

10 sats \ 0 replies \ @LowK3y19 19 Dec 2024

Scaling way back to bankruptcy

1 sat \ 1 reply \ @cryptocoin 14 Jan 2023

UPDATE

Here's the Tweet from Wyre that kicked off a Twitter thread where the CEO is replaced with an interim CEO and the company has funding to meet all withdrawal obligations.

Hey Wyre community – we’re excited to share that today we received financing from a strategic partner that allows us to continue our normal course of operations.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

deleted by author

1 sat \ 0 replies \ @cryptocoin 5 Jan 2023

Services and wallets that used Wyre are starting to notify their users to withdraw:

1/ Update on @JunoFinanceHQ in the last 24 hours At Juno, we aim to be the easiest and fastest on and off-ramp for crypto. ~90% of our crypto native users have always used Juno as an on and off-ramp. Juno offers these services via its banking and crypto partners.

At Juno, we aim to be the easiest and fastest on and off-ramp for crypto. ~90% of our crypto native users have always used Juno as an on and off-ramp.

Juno offers these services via its banking and crypto partners.

https://twitter.com/JunoFinanceHQ/status/1610639365595860992 [Nitter]

And an article from CoinDesk on this:

Crypto Bank Juno Tells Customers to Self-Custody or Sell Amid Custodian Wyre's Turmoil https://www.coindesk.com/business/2023/01/05/crypto-bank-juno-tells-customers-to-self-custody-or-sell-amid-custodian-wyres-turmoil [Archive]