Express

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

Tyler Irvin

Summary: 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 ...

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.”

1.png

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

2.png

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

  • Revisiting and Refuting “Nouriel Roubini: bitcoin is not a hedge against tail risk” 9 days ago
  • Puffer Finance Secures Grant to Secure Validator Operations Through Novel Slash-Resista... 10 days ago
  • What Will the Next Ethereum Upgrade, Cancun-Deneb, Bring? 12 days ago
  • BBS.NYC | A Global Blockchain Technology Conference Is Coming 13 days ago
  • SuperWeb3 Online Demo Day on May 10th 13 days ago
  • You need to login to comment.