Leading Ethereum Classic development group shuts down

A leading development group for Ethereum Classic announced in a tweet Monday that it was shutting down. "Unfortunately ETCDV cannot continue to work in the current situation and has to announce shutdown of our current activities," the tweet said. The native token of Ethereum Classic, a predecessor to the better known Ethereum network, was trading down 11% at the time of the tweet's release, as per data from OCFX. The group describes itself as "a leading Ethereum Classic development company with a strong focus on decentralized computing providing long term support for the ETC blockchain." According to the announcement, the group was struggling with finances.  The mission of such groups is to contribute code to a decentralized network to ensure its efficiency. (Twitter)