RChain is facing major budgetary shortfall and is “functionally bankrupt”, The Block reports.

RChain is facing major budgetary shortfall and is “functionally bankrupt”, The Block reports. Once ranking 30th on CoinMarketCap and led by an all-star team including Vlad Zamfir, this project was hoping to rival Ethereum.

But now RChain’s management is accused of alleged financial mishandling, reckless investments with developers losing faith left and right. Projects lead developer, Medha Parlikar, quit in October alongside three board members, and RChain’s CFO Kate Gonsalves resigned a fortnight.

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The Block
RChain cooperative 'functionally bankrupt' after questionable deals, with investors and developers losing faith
RHOC was an investors’ dream. Ranking 30th on CoinMarketCap and led by an all-star team including Vlad Zamfir, the coin was well on its way to stardom as the token behind RChain – the blockchain platform hoping to rival Ethereum. No doubt it stood out among the likes of Tezos and EOS, focusing on ..