According to CoinMeta, Wu said that the cross-chain asset protocol universal has announced that it will cease operations due to the scale of the protocol not reaching the level required for long-term sustainable operation. universal will continue to operate normally for the next 60 days, until November 17th, when users will be able to sell uassets or redeem the underlying assets. After November 17th, the remaining uassets will be redeemed through smart contracts. The protocol completed a $9 million financing in February 2025, led by a16z and crypto, with coinbase and ventures also participating in the funding.