Linerah Fails to Meet $1.5M USDC Funding Goal, Halts Operations

Linerah, a layer-1 project, announced it has halted operations after failing to meet its LNRA token sale funding goal. The project raised $848,271 USDC, falling short of the minimum target of $1.5 million. Founder Mathieu Baudet stated in a Discord post that the token sale reached approximately $900,000 (around 1.25 billion KRW) in commitments but failed to secure emergency funding needed to sustain operations.

Linerah also reported on its X account that 617 participants from 69 countries joined a community round, with plans to refund contributions via the wallets used for participation. The project's sale page had previously stated that all funds would be fully refunded if the minimum target was not met.