PANews reported on February 20 that, according to The Block, on-chain data analytics platform Parsec has officially ceased operations. The team stated on its official website and social media platforms that the project has stopped providing services after five years of operation and is currently working on refunds and cancellations of all valid subscriptions.

Previously, it was reported that the company completed a $4 million funding round in 2023, led by Michael Novogratz's Galaxy Digital, with participation from Uniswap Labs Ventures, Robot Ventures, CMT Digital, and other companies. It provides customizable on-chain data terminals and analytics platforms, supporting users in building data dashboards and visualization tools in DeFi, NFT, and other fields, and provides API interface services.