Tuesday, October 26, 2021
Home Crypto News Market IOTA Founder David Sønstebø Leaves IOTA Foundation 

IOTA Founder David Sønstebø Leaves IOTA Foundation 

- Advertisement -

In today’s IOTA News, we discuss the departure of David Sønstebø from the Foundation. A press release from IOTA published on 10 December shows that the founding member Sønstebø probably has different interests and goals than the current management level.

Let’s take a look at what the press release says and what voices there are from the Community. 

Last week, we received news on the Twitter channel that David Sønstebø is leaving the IOTA Foundation.

The reasons and statements are exciting and can be read in Detail on the Iota Blog.

The blog says at the beginning that the IOTA Foundation has separated from Sønstebø, the separation takes place after a unanimous decision, which was made by the board of trustees and is in the best interest of IOTA and its ecosystem.

On the official website, the image, Position and Name of Sønstebø are removed from the team display.

From the blog post, it can be read that the decision was probably made due to internal differences of opinion. So it says it was a decision “that had to be made”.

Furthermore, it says: There were some examples where David’s actions did not match what the Foundation stands for and what it wants to be. Because of the concerned investors and Community, the Foundation primary goal is to protect the interests of the Community and that the Foundation is not afraid to make difficult decisions that protect and safeguard these interests.

At the end of the post, it is also stated that the Foundation is as strong as ever. The technical developments will go according to plan and are progressing well.

This changes absolutely nothing about the deployment and strategy of Chrysalis and Coordicide, and we see good progress.

The mood of the Community is different on this matter. There are both supporters of this decision, as well as critics that criticize management decisions.

Some Reddit users have a view that it’s good news because some founders can’t grow with the project. It looks as if IOTA is getting ready for Corporate companies, and this does not affect the technological aspect of Iota.

Other users expressed that they had already turned their back on the project a long time ago. CalculatedLuck a community member said” I left Iota some time ago because the leadership was weak. The communication of Sønstebø was extremely unprofessional.”


- Advertisement -
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade and write on cryptocurrencies. My primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic will be providing accurate information about cryptocurrencies topics that users can trust.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Good Games Guild Announces Triple IDO on Seedify, Ignition, MoonStarter

Jakarta, Indonesia, 24th October, 2021, Good Games Guild, a gaming hub that aims to create the largest virtual world economy by optimizing its owned...

YearnNFT Finance: An Advanced Approach to NFTs with Digital Art and Collectibles

Since August, the market sales with respect to NFTs have skyrocketed, where a single NFT sales round up to millions worth. There have been...

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.