Kadena’s KDA token is being faraway from distinguished crypto exchanges after the corporate behind the blockchain introduced Tuesday that it’s shutting down—and can now not assist the long-running community.
Bybit and OKX each mentioned Wednesday that KDA buying and selling providers are beginning to be faraway from their respective exchanges.
OKX already suspended deposits on KDA and plans to droop spot buying and selling providers on October 26, forward of eradicating the buying and selling pairs on October 29. Buyer withdrawals for KDA shall be disabled on January 22, 2026. Bybit, in the meantime, has ended all lending and borrowing providers round KDA and can finish perpetual contracts on KDA starting October 24.
The corporate working the Kadena blockchain introduced Tuesday that it’s ceasing operations because of unfavorable market situations, although the decentralized community itself will proceed working independently.
“We remorse to announce that the Kadena group is now not in a position to proceed enterprise operations and shall be ceasing all enterprise exercise and energetic upkeep of the Kadena blockchain instantly,” the official Kadena account on X posted Tuesday.
KADENA PUBLIC ANNOUNCEMENT
We remorse to announce that the Kadena group is now not in a position to proceed enterprise operations and shall be ceasing all enterprise exercise and energetic upkeep of the Kadena blockchain instantly.
We’re tremendously grateful to all people who…
— Kadena (@kadena_io) October 21, 2025
The KDA token plummeted following the announcement, and was just lately down greater than 65% on the day at a value of $0.072. The worth of the token is down 99.7% from its 2021 peak of $27.64.
The workforce mentioned that the Kadena blockchain operates independently by means of decentralized proof-of-work mining and sensible contracts ruled by particular person maintainers, which means the corporate’s shutdown will not halt community operations. Builders plan to launch an up to date binary to make sure uninterrupted service with out their involvement.
Based in 2020 by former JP Morgan executives Stuart Popejoy and William Martino, Kadena positioned itself as “the blockchain for enterprise” utilizing proof-of-work consensus just like Bitcoin.
The founders had beforehand developed JP Morgan’s early blockchain initiatives earlier than launching their very own venture, claiming it might surpass Bitcoin and show extra reliable than Ethereum. It failed to take care of momentum, nevertheless, culminating in Tuesday’s announcement that the group behind the community is closing up store.
