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Pudgy Penguins-backed Abstract to shut down after ‘tens of millions’ in losses

Posted on October 7, 2026
By Cointelegraph
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1 min read

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Pudgy Penguins-backed Abstract to shut down after ‘tens of millions’ in losses

Ethereum layer-2 Abstract will shut down Dec. 15 after Igloo CEO Luca Netz said the company lost tens of millions of dollars without finding product-market fit.