Blockchain company Kadena announced on October 21 that it was “no longer able to continue its business operations” and would immediately stop all activity and maintenance of the Kadena blockchain. The company cited deteriorating market conditions as the main reason for its closure, noting that it had informed its staff and would retain a small team to manage the transition and liquidation period.
Kadena (KDA) price fell 56.79% overnight after the company announced its decision to shut down all business operations. At the time of writing, KDA was trading at around $0.09121.
Although the organization is ceasing operations, Kadena added that its blockchain will remain active. The network, operated by independent miners, will continue to operate.
The team also promised to release a new binary to ensure uninterrupted functionality. Node operators are encouraged to upgrade “as soon as possible” to maintain operational stability.
Kadena also noted that its token economy remains intact. According to its 2021 tokenomics update, over 566 million KDA is still expected to be distributed as mining rewards until 2139, while around 83.7 million KDA is expected to come out of lockup until November 2029.
The team added that it is open to collaborating with the Kadena community to facilitate the transition to decentralized governance and maintenance.
Kadena, founded in 2016 by former JPMorgan blockchain developers, aimed to combine proof-of-work scalability with smart contract capabilities.
This story was originally reported by TheStreet on October 22, 2025, where it first appeared in the Bankruptcy News & Analysis section. Add TheStreet as your preferred source by clicking here.
