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The San Francisco blockchain project, Thor Token, is about to be completed because the project "has not been able to gain ground and achieve commercial success." The news was announced by Thor's co-founder and CEO David Chin on April 9th.
Thor – which was built on Neo (NEO) – has announced its closure, unable to raise enough capital to face the lack of sales and find a new place where he could benefit more Resources.
Chin revealed in his message that the company was trying to find the right person or entity to entrust the Thor project to let it continue, but failed to find one for an acquisition at the moment . Chin further stated:
"Thor will cease operations in the near future as no other financing or acquisition offer has been found. […] All Thor's code and products will remain open source software that the community can use, modify, or modify to their advantage. "
The last few months have seen the closing of various digital currency projects. Last December, the large US company Stablecoin, based under a major Stablecoin project, would cease operations and return to its investors the bulk of the $ 133 million of funds raised during a private placement. last April. This decision is due to regulatory concerns regarding one of the Basis chip types.
In January, the Chinese giant of cryptocurrency mining, Bitmain, announced that it was going to reduce its activities in the Netherlands. Bitmain said the move was part of its long-term roadmap of cost-cutting measures. Bitmain reportedly suffered from the declining profitability of Bitcoin mining in recent months, with Bitcoin (BTC) hovering around $ 4,000.
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