Texas-based fintech firm GloriFi to shut down

GloriFi, a Texas-based startup, announced its shutdown on its website on Monday. The 'anti-woke' banking company faced several financial challenges related to startup mistakes, reputational attacks and negative publicity.

The fintech firm, which had a turbulent start, laid off dozens of employees recently to manage its declining finances but still couldn’t figure a way out. After the funding that the company was expecting fell through, the fate of GloriFi was sealed.