May 8, 2024

Juno Crypto Bank Advises Customers to Self-Custody or Sell Assets Amid Custodian Wyre’s Upcoming Liquidation

Crypto banking firm Juno has advised its customers to either self-custody their digital assets or sell them for cash as it migrates client funds to a new custodian. Juno’s current custodian, Wyre, is reportedly preparing to wind down its operations in the coming weeks, leading Juno to seek out a new custodian. The identity of the new custodian has not been revealed, but Juno CEO Varun Deshpande assured customers that the migration of funds from Wyre to the new custodian will be completed in the coming weeks. Wyre, which was once valued at $1.5 billion, has faced significant challenges in recent months, including the termination of an acquisition deal with Bolt in September and rumors of liquidation and the termination of its offerings in January.

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