Crisis in Major Exchanges Listed Altcoin: Main Developer Team is Shutting Down!

Gitcoin, a funding platform in Web3, officially announced the closure of its core development unit Grants Lab, effective May 31, 2025.

This move will also signal the end of the support given to Grants Stack, the main product developed by the team.

The decision came after the evolving dynamics in financing, the rapidly changing Web3 ecosystem, and the departure of several key team members. According to Gitcoin co-founder Kevin Owocki, these factors left Grants Lab without a sustainable path to profitability.

Owocki stated, “Today, I am sharing one of the toughest decisions we have had to make since the founding of Gitcoin” and added: “We have decided to close Grants Lab and are parting ways with a few extremely talented and mission-driven team members.”

Owocki pointed to broader changes such as the maturation of Layer 2 (L2) networks in the ecosystem, the emergence of new coordination tools, and increasing competition as the driving forces behind the decision. Internal changes also played a role in the loss of executive teams that helped shape the vision and activities of Grants Lab.

The decision made in collaboration with Gitcoin’s governance representatives and the Grants Lab leadership includes not submitting a new budget proposal for the second half of 2025. Instead, the remaining funds from the first half of the year will be used to provide severance pay to personnel adversely affected by the situation.

The organization plans to continue its funding efforts through a leaner structure focused on the Gitcoin Grants program. The Gitcoin Passport ( is now known as HumnPassport ), and other initiatives such as KERNEL, Public Works, and Allo Capital continue to be operational and funded.