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Grayscale continues to support ethereum classic developers

Thu, 23 Jan 2020, 05:39 am UTC

Grayscale Investments has extended its funding for ethereum classic (ETC) developers for another two years, CoinDesk reported.

“It is a big vote of confidence which we deeply appreciate. This funding allows us to continue our support of the ETC protocol and ecosystem. We will provide grants for key projects, as we have through 2018 and 2019,” ETC Cooperative executive director Bob Summerwill said.

Grayscale has been supporting ETC Cooperative since the latter's inception back in November 2017. It supports the cooperative through its Grayscale Ethereum Classic Trust and has already donated over $1.1 million to date. In 2019, the company gave $338,000.

Ethereum Classic (ETC), which was created in 2016 via a hard fork of the Ethereum blockchain following the infamous DAO hack, is currently among the top 20 cryptocurrencies by market capitalization and trading at $8.81 as of press time.

Meanwhile, Ethereum Classic Labs has just donated $1 million to UNICEF. According to Terry Culver, CEO of Ethereum Classic Labs, they chose the organization because they share the same commitment.

“Because it is a premiere humanitarian organization and they share ETC Lab’s commitment in finding ways to use technology to help the people and to improve people’s lives today and that’s something we really believe in,” Culver explained.

Earlier this week, Grayscale announced that Grayscale Bitcoin Trust has attained the status of an SEC reporting company.

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