Wu said it has learned that cross-chain asset protocol Universal will announce it will stop operating. The reason is that the protocol has not achieved the scale level required for long-term sustainable operations. Universal will continue to operate normally for the next 60 days, until November 17; during this period, users can sell uAssets or redeem the underlying assets. After November 17, the remaining uAssets will be redeemed via smart contracts. Universal completed a $9 million funding round in February 2025, led by a16z Crypto, with participation from Coinbase Ventures and others.