It is with deep sadness and regret that we must inform you that Intelligent Trading Foundation (“ITF”) is no longer in a position to continue active development of our full suite of products.
As the cryptocurrency markets continued to fall toward the end of 2018, it became apparent that our operating expenses coupled with the lack of significant revenue streams were creating an increasingly dire economic situation for ITF.
Understanding the ramifications of the situation, ITF undertook several excruciatingly difficult rounds of headcount reductions and strove continuously to cut costs to a minimum while focusing on increasing innovation through a number of sprints and rapid prototyping.
While we have enjoyed a number of minor successes along the way, the associated revenue is not enough to cover our company expenses. Unfortunately, despite these numerous attempts, we have failed as an organization to gain sufficient traction and find product/market fit with any of our products.
Due to the nature of the cryptocurrency market, seamingly simple business operations (opening bank accounts, contracting with traditional, non-crypto service providers, etc) were extraordinarily difficult for ITF and that placed a huge, and unforeseeable burden on ITF and its ability to operate, much less grow.
We have recently undergone an additional, massive, headcount reduction and cost cutting exercise – and as a result, the limited remaining company funds will be allocated to covering the costs for maintenance of our current products.
For the foreseeable future, ITF’s flagship products, ITF Signals, ITF Portfolios, and automated trading through Zignaly, will remain online with basic support and maintenance. There are still many customers using and enjoying them, so we will keep the servers running as long as possible to support them.
Our final major product, Clover, is still under development and does not yet have a planned public release date. ITF’s leadership team will continue actively developing and refining Clover until we have enough data to support a decision on which direction to take the technology. Because the core of Clover relies on experimental AI tech, accurately forecasting the long-term viability of this product is not possible. In the event that Clover does prove viable, additional resources will likely be required before ITF would be able to scale the product for widespread adoption.
From the early alpha version of ITF Signals in Summer 2017, ITF had ambitious goals to improve this Flagship product by combining artificial intelligence, mobile, web, and blockchain technologies. ITF accomplished these goals, creating a seamless product experience integrating all four of these technologies; and then went on further to launch companion products with even more features for connecting to exchanges and improving analytics. As a result, despite the products not becoming beloved consumer apps, we are proud of our achievements and will keep them available to the public for as long as possible.
We would like to take this opportunity to thank our community for their support, and for your belief in our vision – you are what kept us going as long as we did despite the increasingly difficult challenges we faced.
We will continue to publish updates regarding any progress that is made on any of our products. For further information, questions or to speak with a member of the ITF team, please email us at firstname.lastname@example.org.