Peng Zhong, the CEO of Ignite, announced on Twitter on Friday that he would be leaving the company. Ignite is the company behind the founding of blockchain ecosystem Cosmos.
Zhong’s departure comes just a few months after Ignite rebranded itself from Tendermint.
In May, CoinDesk also reported that Ignite’s former CEO Jae Kwon would be rejoining the firm. Kwon, one of Cosmos’s co-founders, originally left Ignite (then called Tendermint) in 2020 after a widely-publicized dispute with some of its employees.
With Kwon’s re-entry came the announcement that Ignite would split into two companies: Ignite and New Tendermint, with Zhong continuing to helm Ignite and Kwon taking over as CEO of New Tendermint.
CoinDesk has reached out to Zhong and Kwon for comment.
This is a developing story, check back for updates.
Read more about
BTC$19,374.81
ETH$1,066.55
BNB$216.70
XRP$0.311698
BUSD$1.00
View All Prices
Sign up for Market Wrap, our daily newsletter explaining what happened today in crypto markets – and why.
