RATE Group | Crypto Startups Going Bankrupt Amidst Market Crash
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Crypto Startups Going Bankrupt Amidst Market Crash

10 Dec Crypto Startups Going Bankrupt Amidst Market Crash

Posted at 03:41h in Cryptocurrency News by

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Blockchain, Cryptocurrency–While investors are left holding the tab from the plummeting crypto market, with this week seeing a relative low for Bitcoin since peaking at $20,000 in December 2017, crypto-based startups have also had to contend with the fallout.

On December 6, Bloomberg reported on a round-up of cryptocurrency startups that are closing doors amidst the most recent price rout for Bitcoin and the broader altcoin market, starting with ETCDEV–the group behind the launch of Ethereum Classic.

ETC, seventeenth in market capitalization with a value of over $400 million, announced last week that it would be closing shop following a shortage of funds and inability to raise more capital to keep the project afloat. Igor Artamonov, founder of ETCDEV and the forked coin of Ethereum (ETH), spoke in an interview on the state of his company in the context of the broader falling market,

“There are a few things that happened at the same time. I am sure if that happened a year…

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