Gitcoin Labs Closures: Impact on Grants Program & Token Stability

Gitcoin Labs has ceased operations, driven by financial pressures and changes within the broader ecosystem. This closure affects personnel and operational aspects. Despite a 2% decline in Gitcoin token (GTC) price following the announcement, the core Grant Program remains secure for the foreseeable future, with funding guaranteed until 2029. The decision represents a notable shift in the industry landscape, highlighting the challenges of maintaining operational sustainability amidst evolving market dynamics.