In a tweet only hours old, one of the leading teams furthering the development of 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 the 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.