DL News Shuts Down by End of May, DeFiLlama's Media Division Announced on May 8

According to PANews, DL News, the news division launched by DeFiLlama in 2022, announced on May 8 that it will shut down by the end of May. The media outlet stated that while it was intended to become a profitable business, the goal was not achieved. Following internal conflicts at DeFiLlama in early 2023, DL News effectively separated from its parent company but retained the brand name. The company cited deteriorating media conditions and the collapse of traditional subscription models as key factors. Although its research division, DL Research, achieved 270% revenue growth in 2025 with annual sales exceeding seven figures and serves multiple top crypto companies, overall traffic in crypto and tech media has sharply declined. The company began layoffs in mid-April and notified employees on May 1 of the month-end closure.