Blockchain

Tindermint Labs Director Zaki Manian Steps Down from His Position

Tindermint Labs director Zaki Manian announced in a recent interview that he is stepping down from the company, citing the behaviour of CEO Jae Kwon. The announcement comes days after Zake made a series of tweets which exposed the ugly internal rift between the Tindermint team, the company that empowers the Cosmos blockchain network.

In a series of tweets, Zaki had accused Jae of lying to the community in the name of decentralization, because, according to the former Director, Jae has been trying to evade the responsibility arising out of his negligence of the Cosmos network. In one of the tweets, Zaki said,

“Over the last 6 months, Jae has obsessively focused on Virgo while neglecting and under-resourcing IBC. He threw a painstakingly planned hiring and resource improvement proposal out the window to become @BitcoinJaesus. His behaviour has become an untenable distraction.”

In his interview, Zaki said that people in the company want to portray the decision as a power struggle between him and Jae, which, according to him, is not true. “It was really me saying I don’t see a way in this arrangement to get the work done. And the best way to get the work done was for me to leave,” he added.

Cosmos is regarded as one of the biggest blockchain projects in the industry, touted to be an internet of blockchains. The network was launched by Tindermint in March 2019, and since then it has seemed to be quite promising. However, the past few months have been apparently quite bumpy, and now, the resignations of the director of the mother company could prove to be shattering.

In the beginning, and up until recently, Cosmos received support from giants on the game like Binance and Coinbase. The networks native token ATOM currently has a market cap of over $814 million, ranked among the top 25 cryptocurrencies, which isn’t an easy feat to achieve in less than 12 months. Jae Kwon hasn’t reacted to the claims made by Zaki yet.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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