Phaver Closes Operations: Token Plummets 99% Following Financial Missteps

Social media platform Phaver has ceased operations following a dramatic decline in its token value, which has fallen 99% since its launch in September 2024. The company’s struggles to meet financial obligations led to the shutdown, with staff citing insufficient operating funds as the reason for the closure. Phaver’s demise comes after significant challenges with its token sale and airdrop event, causing a liquidity crisis that hampered its operations.