Wednesday 22nd January 2020 - Vancouver, Canada - The ETC Cooperative today announced that Grayscale Investments, the world's largest digital currency asset manager and sponsor of Grayscale® Ethereum Classic Trust has extended its funding of the ETC Cooperative.
Grayscale's renewal extends the initial pledge which was announced upon the creation of the ETC Cooperative in November 2017. In order to promote the growth and development of the Ethereum Classic network, Grayscale will donate up to one third of the Trust's annual fees to the ETC Cooperative.
"I view the extension of this financial support as a vote of confidence in the ETC Cooperative and in the huge promise of ETC" - Bob Summerwill, Executive Director.
Below is a breakdown of Grayscale Ethereum Classic Trust's donations to the ETC Cooperative to date.
- $372K donated in 2017
- $408K donated in 2018
- $338K donated in 2019
As Executive Director, Bob Summerwill has nurtured the ETC Cooperative increasingly towards a position of sustainability and organizational independence. During Q1 2020 that process will come to fruition, with enhanced governance, in-house accounting by Alison Alexis CPA and even greater organizational transparency.
As previously reported, the ETC Cooperative recently filed its 990 form for 2018 with the IRS and it expects to publish a full-year transparency report for 2019 later in 2020. This report will be significantly more detailed than the Mid-Year and End-of-Year transparency reports for 2018. The ETC Cooperative then intends to move transparency reports to a quarterly cadence from that point onwards.
In addition, our ongoing work to bring high quality ETC information for investors via Messari is almost completed, following the announcement last September that a contract had been signed.
As we continue into 2020, we and the rest of the ETC ecosystem are keenly anticipating the pending Aztlán hard-fork. This third hard-fork in a span of six months will add Istanbul opcodes and complete the process to bring ETC to full byte-code compatibility with the Ethereum mainnet. This is an important milestone as ETC continues its expansion, engagement and interoperability with Ethereum and the Ethereum community.
In the coming months, the ETC Cooperative will also be attending, speaking at and judging events including ETHDenver, ETHLondon, ETHCC, EDCON, Blockchain Revolution Global in Toronto and Consensus 2020. We invite any of those attending to reach out and schedule a meeting.
About ETC Cooperative
Ethereum Classic Cooperative, Inc (The ETC Cooperative) is a Delaware nonstock corporation and 501(c)(3) public charity, with the following mission:
Directly support the development of the Ethereum Classic protocol, infrastructure, and associated applications. Accelerate the deployment of Ethereum Classic-based technologies for use by individuals, business operators, and enterprises through effective branding, marketing, and education. Foster community and collaboration between the various Ethereum Classic constituents including developers, miners, investors, and business operators.
Contact info@etccooperative.org for further information.
About Ethereum Classic
Ethereum Classic (ETC) is a decentralized platform that runs smart contracts: applications that can be run exactly as programmed without any possibility of downtime, censorship, or third party interference.
ETC shares technology with Ethereum but unlike ETH is a "hard money" asset with a fixed-emissions monetary policy.
About Grayscale Investments®
Grayscale Investments, LLC is the world’s largest digital currency asset manager, with more than $2.0B in assets under management. With a proven track record and unrivaled experience, we give investors the tools to make informed investing decisions in a burgeoning asset class. As part of Digital Currency Group, Grayscale accesses the world’s biggest network of digital currency intelligence to build better investment products. We have removed the barrier to entry so that institutions and investors can benefit from exposure to digital currencies. Now, forward-thinking investors can embrace a digital future within an institutional grade investment. Grayscale is headquartered in New York City. For more information on Grayscale, please visit www.grayscale.co or follow us on Twitter @GrayscaleInvest.