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Cyclix Games Project Update
As shared last week in the Cyclix Telegram community group, recent market conditions and funding challenges have prompted the team to review the project’s operations and determine the most responsible course forward.
After careful consideration, the team has made the decision to temporarily suspend casino operations and take the platform offline by Sunday, November 2, while maintaining corporate and legal obligations.
Without new financing, it is simply not sustainable to continue operating, maintaining infrastructure, and supporting ongoing development at a competitive level.
The CYG token will continue to trade as usual, and all code, licenses, and platform assets remain securely under company ownership.
The broader funding environment has shifted considerably. Competing gaming and betting projects have raised multiple 7- and even 8-figure budgets, often allocating millions to marketing, influencer partnerships, and sponsorships.
In contrast, Cyclix was built on a very lean structure, our total raise in Q2 2024 was under $500k, including liquidity for CYG. Competing at scale in such conditions without additional capital is simply not feasible.
An equity raise had been considered in late 2024, but the timing and subsequent market downturn made it challenging. Since then, the team has continued to maintain compliance, support users, and explore new funding and partnership opportunities to bring Cyclix back in a stronger, more sustainable way.
The team remains committed to exploring strategic options for the Cyclix brand, assets and technology.
Thank you to everyone for your support. Updates will be shared on Telegram as well as on X.
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