- Despite the strong support of Coinbase Ventures and Dragonfly Capital, Harpie hires business.
- Harpie will offer a tool that helps users safely transfer their crypto assets.
Harpie, one of the web3 security projects in which great hopes had once been placed, quit The complete closure of his services an.
In fact, the name Harpie had appeared after it received financial support from two major actors such as Coinbase Ventures and Dragonfly Capital. Although the technology and vision had been considered to be sustainable, Harpie was unable to survive in the long run.
The company’s flagship, an on-chain firewall, was developed to recognize and block suspicious interactions directly in the customer’s wallet. This function is very helpful in view of the increase in phishing and the use of smart contracts.
But obviously innovation alone is not enough. When it comes to sustainability, Harpie has to put back. They admit that your current business model is unable to support long -term operation.
Why the collapse?
The reason has nothing to do with the technology. Instead, it is the classic startup problem: How can you earn money sustainably with the services offered? The establishment of a high degree of security for the crypto industry is a nobles undertaking, but without a steady flow of money.
Harpie was not the only web3 security startup that had to struggle with the problem. Many other security projects also try the balancing act between innovation and profitability. In such a fast -moving world as the crypto world, it is not enough to develop a technology – there must also be a solid business strategy.
Customers can continue to move funds and premiums are paid
Harpie stands by his responsibility. In the coming days, the company will introduce a tool on its website with which customers can safely transfer their assets. In the meantime, the existing recommendation and reward programs are also retained. At least Harpie does not run away from his responsibility.
Regulatory gains inspire the global coinbase comeback
While one of his investors suffered a setback, Coinbase took a few steps forward. According to CNF, Coinbase announced plans to resume business in India after it had received the country from the Financial Intelligence Unit (FIU) of the country.
The decision comes as a surprise when you consider that India has long been taking a strict attitude towards cryptocurrencies. According to reports, there is also political pressure, especially since President Donald Trump’s support for digital assets begins to influence the direction of global politics.
On the other hand, Coinbase experiences positive changes at the national level. On March 27, 2025, the state of South Carolina decided to drop his lawsuit against Coinbase in relation to their staking services.
In the lawsuit, Coinbase had been accused of selling securities inevitable. After Vermont had initially dropped the lawsuit, South Carolina’s step further strengthened Coinbase’s position in the eyes of the consumers. Paul Grewal, Coinbase’s Chief Legal Officer, even hopes that other countries will follow this example.
MPC code becomes open source and you rely on common security
In addition, Coinbase officially made his multi-party computation (MPC) cryptography code open to the public on March 28, 2025. MPC is widely viewed as one of the safest crypto technologies that are available today.
By providing this code, the entire community can use and improve it. This measure also conveys a clear message: security should be shared and not monopolized.
No Comments