Fireplace Shuts Down After Just 195 Days in Crypto

Crypto prediction market terminal Fireplace announced it is shutting down just 195 days after its public launch. Users have until September 30 at 23:59 UTC to close their open positions, withdraw their funds, and export their account data. The team did not provide a specific reason for the sudden closure in their public statements.

Fireplace officially launched in late January and raised $1.5 million in a pre seed funding round in February led by Frachtis, with backing from White Star Capital and other investors. The platform aimed to act as a professional trading terminal for decentralized prediction markets, bundling liquidity and real time data for venues like Polymarket and Kalshi. Despite boasting thousands of users on its waitlist, the team decided to end operations.

The shutdown highlights the tough road for smaller tools while major prediction platforms pull in massive funding. Giants like Kalshi and Polymarket continue to raise billions at huge valuations. Traders using Fireplace should act quickly to clear their accounts before the final deadline at the end of September.