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PENGU, DOGE, SHIB Plunge 7% as Pudgy Penguins' Parent Exits Blockchain
Benzinga ·
Benzinga reports: Pudgy Penguins fell 7% Wednesday after parent company Igloo Inc. announced it’s shutting down its Abstract blockchain. Why Igloo Is Walking Away From Abstract Igloo Inc. CEO Luca Netz posted on X Wednesday that Abstract is winding down, shifting the company’s full focus back to Pudgy Penguins, Pudgy NFTs and PENGU. Igloo had acquired Frame in summer 2024 to build a blockchain for consumer crypto, hoping to bring the same mass appeal Pudgy Penguins found in NFTs. Abstract…