Online checkout company Bolt has pulled the plug on its $1.5 billion deal to buy blockchain infrastructure provider Wyre.

Bolt announced the acquisition in April, touting its plan to integrate Wyre’s APIs, which enable simple and secure crypto to fiat payments, into its platform.

However, while the two companies will continue to work together on bringing crypto to Bolt, the acquisition has been canned.

The move comes as Bolt faces up to the tech stocks bonfire. Just weeks after the Wyre deal was announced, the checkout decacorn was forced to lay off a third of its workforce, amounting to 250 people.

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