Web3 security company Stelo issued an announcement announcing the termination of all Stelo product services on October 31, 2023, including Stelo extensions, stelo.com, approvals.xyz and Stelo API. The team stated that misjudgments of market size, market competition, and market maturity resulted in the company’s products not meeting ideal expectations. It also recommends users download a range of alternative security products.
According to previous news, in February 2023, Web3 security company Stelo Labs completed a US$6 million seed round of financing, led by Andreessen Horowitz (a16z).