RATE Group | Digital Asset Manager Grayscale to Fund Future Development of Ethereum Classic (ETC)
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Digital Asset Manager Grayscale to Fund Future Development of Ethereum Classic (ETC)

22 Jan Digital Asset Manager Grayscale to Fund Future Development of Ethereum Classic (ETC)

Posted at 21:03h in Ethereum News by

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While the industry is still abuzz over Bitcoin’s surge toward new yearly highs during last week’s rally, the world has also caught wind of some exciting news about the world’s 15th largest cryptocurrency based on market cap: Ethereum Classic.

As of today, January 22nd, 2020, Grayscale’s Ethereum Classic Trust has announced its financial commitment to fund further development of the Ethereum Classic blockchain over the course of the next two years. 

According to a leaked private message from the executive director of the ETC cooperative, Bob Summerwill, the Grayscale Ethereum Classic Trust has committed to donating one-third of the Trust’s management fees to the ETC cooperative each quarter of 2020 and 2021 in order to continue their support of the Ethereum Classic ecosystem. 

Grayscale Front-Lining ETC’s Development

According to recent estimates, since 2017, Grayscale has managed to donate roughly $1.1 million towards the development of Ethereum Classic’s blockchain. 

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