Gitcoin to shut down software division, refocus on grants program

#Ethereum -based public goods funding platform Gitcoin is closing its software development arm, #GitcoinLabs, citing financial challenges and an unsustainable path to profitability. The move, announced Friday, follows a year of strategic restructuring. #Gitcoin will continue operating its Grants Program and maintain certain tools like the Human Passport, while winding down others including Grants Stack and Allo Protocol. Remaining funds will be used to cover severance payments for affected employees.