CEX NEWS announcement: The Linera team said on Discord that due to insufficient funding, they will immediately cease operations. Its Sonar token sale garnered nearly $900,000 in subscriptions but did not meet the minimum threshold; all contributions have been refunded. An emergency fundraising round also failed. Linera is gradually shutting down the app and its Discord community; point balances will be retained but future entitlements are not guaranteed. The team still hopes to complete the protocol and launch the app, but there is no timeline. The project was founded by former Meta researcher Mathieu Baudet, and it raised about $12 million across two rounds in 2022 and 2023, with a16z participating in both.