Like other responders, I too dislike LinkedIn, but if you announced your role on LinkedIn, I'm sure you want to announce that you've moved on too.
The interesting point to you is that this is happening at the moment, I'm sure you know this, but to give some colour/color, businesses are trying to plough/plow forward in hope, and sometimes desperation, and then a single unpaid invoice or lost contract is tipping that business over the edge. It is incredibly difficult for them to get credit, and if they can, it takes a long time. This is happening a lot - you're perhaps a very unfortunate and unlucky sufferer, but you aren't alone. Most senior people, especially in SMEs, know that there is in effect a sort of credit crunch, and many more businesses are on the seesaw/teetertotter than have been in a long time. It could be that you were parted with because of a clash of styles - you don't say - but then people are being stupidly picky with big recruitment spends, so more new joiners are being "returned" if they aren't absolutely perfect and walk on water, because they shouldn't have recruited in the first place. It's a nasty situation.
Practically, I think anyone at the moment will sympathise if you point out that the role disappeared, without apportioning blame. So I think you simply post as if you're looking for a new role, and say as little as you need to as to why; "Unfortunately, ultimately [company name] were unable to offer a permanent position in this role" - dignified and simple and letting people join the dots for themselves. At the moment people will most likely consider that the company couldn't afford you, or hired willy nilly in hope rather than expectation, or that they made the mistake, and they will very likely not think ill of you, especially if you maintain your dignity.
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