RATE Group | Ethereum Classic (ETC) Development Team Shuts Down Operations Due to Funding
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Ethereum Classic (ETC) Development Team Shuts Down Operations Due to Funding

03 Dec Ethereum Classic (ETC) Development Team Shuts Down Operations Due to Funding

Posted at 23:22h in Ethereum News by

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In a tweet only hours old, the team in charge of development at Ethereum Classic (ETC), threw in the towel citing funding difficulties that made it hard for them to continue operations. The tweet included a screenshot of an announcement from ETCDEV’s founder and CTO, Igor Artamonov, that stated the following:

As is publicly known we have struggled with funding our operation in the last few weeks. This was partially due to the market crash, combined with a cash crunch in the company.

We appealed to investors in the ecosystem as well as external to it. We also did the community fund, but in none of these cases were we successful in securing short-term financing.

The full tweet can be found below.

Does This Mark the End of The Road for Ethereum Classic?

Further checking coinmarketcap.com, ETC…

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