Ignite CEO’s Peng Zhong Resigns Amid Former CEO’s Return

Ignite’s CEO Peng Zhong announced his resignation early today in light of Jae Kwon’s (the former CEO) return to the company. 

“Today is my last day at Ignite,” Zhong tweeted. “Thank you for the camaraderie we shared as we built out this ecosystem. It's been an honor to be a part of this team and this community. I will miss you.”

Now Zhong’s bio on Twitter features “Formerly CEO of @Ignite-com.” 

Ignite is a blockchain development company and one of the foremost companies in the Cosmos ecosystem. Previously known as Tendermint, Ignite rebranded in February of this year. 

Then in May, Ignite announced they would be splitting into two separate offshoots: NewTendermint and Ignite. While Zhong led Ignite, Kwon returned to lead NewTendermint. NewTendermint was designed to focus on contributing to the Cosmos ecosystem’s core technology, while Ignite continued to focus on product development. 

Zhong’s sudden departure raises questions about Ignite and NewTendermint’s futures. Ignite’s website has been updated and prioritizes its blockchain development tool with no mention of its venture arm and accelerator. It seems as though those previously pursued endeavors have vanished. Furthermore its flagship product Emeris has been put on hold. 

Author: Tyler Irvin

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