Crypto startup Pillow, backed by Accel and Quona, to discontinue all services

Singapore-headquartered Pillow plans to discontinue all its services and app in the coming weeks, it warned customers Friday, citing regulatory uncertainty that has claimed countless other crypto startups in recent quarters.
Pillow allowed customers to invest in Bitcoin, stablecoins and altcoins, and promised returns of up to 18% — a figure that dropped to 14% as the market started to cool. It had raised about $21 million altogether and counted Accel India, Quona Capital, Elevation Capital and Jump Crypto among its backers. Pillow revealed its $18 million Series A funding in October last

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