ETCDev Shuts Down Due to Financial Woes By Cryptovest

ETCDev Shuts Down Due to Financial Woes

Cryptocurrency Dec 04, 2018 03:21PM ET

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ETCDev Shuts Down Due to Financial Woes

Reality is starting to bite even in the space of virtual currencies. The Ethereum Classic (ETC) project might lose its key development firm, ETCDev, which officially announced the decision to cease its activities after it had failed to raise the funding necessary for its further operations.

On December 3, ETCDev acknowledged it had been through dire straits and was not able to finance itself anymore. As a result, the team could not continue the work under current circumstances and had to shut down. Igor Artamonov, ETCDEV's founder and CTO, posted the announcement on the company's official Twitter account, where he explained the reasons behind the move.

"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 w...

This article appeared first on Cryptovest

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ETCDev Shuts Down Due to Financial Woes

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