There are many cryptocurrency projects and companies that have folded as a result of 2018’s bear market, and it appears that a leading Ethereum Classic (ETC) development company is no exception. ETCDEV has announced that they are shutting down this week, claiming that it has struggled to secure funding and that they “cannot continue to work in the current situation” in a tweet:

The tweet has already been retweeted and liked hundreds of times. In a tweet that seems to foreshadow the fact that the company needs funds, it previously tweeted a poll in December 2, asking if the ETC community would “help ETCDEV” by donating money from “ETC Community donation address”. The poll received over 1100 votes, and the majority of respondents answered “No”:

ETCDev ironically may have missed out on a significant sum of money – $150,000 – over a misunderstanding. Specifically, the Ethereum Foundation referenced technologies developed by ETCDev but ended up making a donation to ETC Cooperative instead.

Although ETCDev is a main developer, this doesn’t mean that Ethereum Classic is over. Developers such as Ethereum Classic Labs and IOHK (Input Output Hong Kong) are still active.