Ethereum Classic Development Team Shuts Down

Igor Artamonov, founder and CTO of the Ethereum Classic (ETC) development team has announced today that ETCDEV would be shutting down all activities effective immediately.

The post cites funding difficulties given the bear market and lack of cash within the ETCDEV company.

While some public and private appeals were and continue to be made for angel investors to swoop in the save the day from both community and elsewhere, it was not sufficient to secure the financing required to continue ETCDEV’s operations in the short term.

ETCUSD, 1h Charts

Naturally, the public have not taken kindly to the news, with a dramatic drop from $5.10 to $4.54–almost 11%–since the news was published a few hours ago.

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