Thor Token Project Shuts Down After Attracting $21 million
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12 April
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Thor Token, a San Francisco-based blockchain project that was developing a token based on NEO's blockchain, has just shut down.

David Chin, the company CEO, announced last Tuesday that the firm had decided to shut down after being unable to attract the necessary funds to continue with the development of the project.

The startup managed to raise about $21 million in its ICO, however, the company has apparently spent all the funds. According to the company's leader, the project has been trying to find the right person to continue with its development, however, it has not succeeded in this mission. As a result, the company has decided to shut down due to the lack of funds and to the inability to find the right person to continue with the project.

Chin has also mentioned the pressure from regulators as one of the reasons behind the company's decision. He has also said to the owners of the project's token that he is sorry for being silent for so long. However, he argues that the firm has been trying to save the project, and that is why it had not shared the news before.

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