The final crash. The final road to zero.ETCDEV, the startup that led development on Ethereum Classic, which is among the top 20 coins with a market capitalization of about $400 million, announced this week that it’s shuttering operations due to a funding crunch.
Joseph Lubin’s ConsenSys, one of the largest crypto-related software startups based in New York, said Thursday that its workforce will be reduced by 13 percent as part of a reorganization.
Many of the companies are suffering because they kept a portion of their funds in digital assets, whether in tokens they sold through initial coin offerings or in Bitcoin and Ether, which served as the preferred means of exchange in the crypto world (greedy bagH0DLing).
They’re not alone. In late November, Steemit Inc., which supports a site that pays content contributors for posts, said in a blog posting that it’s been forced to layoff nearly 70 percent of its employees.
Adult entertainment site SpankChain has downsized from 12 people to eight workers recently, according to a tweet from CEO Ameen Soleimani. That’s down from 20 employees and contractors in March.
Sirin Labs, for example, raised $158 million last year to create a mobile phone that allows consumers to trade and use crypto. The company, which will ship its first batch of a few thousand phones in December, is now considering abandoning hardware altogether and refocusing on shipping software for other phone makers to use, Chief Executive Moshe Hogeg said in an interview. Sirin now only has enough funds for six to 12 months of operations, he said.
From bloomberg.
And do not get me started on miners (Bitmain in particular).
The ponzi is over. RIP BagH0DLers.
It was all written. This outcome was innevitable. Anyone that ever opened a history book or has some common sense had to know this was how it would play out.
We won. They lost.
They bragged. They laughed. They called us uneducated morons that did not do our research. We kept going. They got destroyed and lost everything. We did not.
They were wrong. We were right.
They are bankrupt and have a grim future. We grew, and we smile as to what the future holds for us.
Should have listened.
Spank
[SPANK] Pre-pump phase It seems that we are forming the pattern of the handle + cup regarding spankchain.
Be patient and look at the level 0.1$.
SPANK | BTC Bitfinex - 6x potential Mid/Longterm SpankChain comes with good fundamentals, simple use-case and a real need for such a solution.
It's one of the crypto projects that has big potential of accelerating mass adoption. I will definitely hold some of my value on this market.
I've been accumulating small amounts and will continue to accumulate in the 0.000155-0.0002 BTC area.
SPANK on Coinmarketcap.com: coinmarketcap.com
Project website: spankchain.com
I love their launch video: www.youtube.com
SPANK - SpankChain Wedge patternA possible wedge pattern is forming on the SPANK 1h timeframe chart. A breakout could happen somewhere next week.
(This is not financial advice, this is a volatile market where anything can happen)