RChain cooperative lost an estimated $4.1M in 2018
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Quick Take
- RChain cooperative’s net loss for the fiscal year was approximately $4.1 million
- Most of the platform’s expenses came from a license for an audio codec by Immersion Networks, which is still not fully paid for
- It is now a realistic possibility that the RChain cooperative will be dissolved, and RSong will become a continuation of RChain
RChain cooperative, the blockchain platform that was hoping to rival Ethereum, released financials Monday including an income statement for 2018 and a balance sheet dated to February 2019. In 2018, the RChain cooperative generated income of $22.2 million from the sale of its token and cryptocurrencies. However, the income was outweighed by expenses of $26.3 […]
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