Ignite CEO announces departure after seven years

Peng Zhong, the chief executive officer of Ignite – formerly Tendermint and backer of the Cosmos ecosystem – has announced he will be leaving the firm.

In a Friday tweet to his more than 20,000 followers, Zhong said July 1 will be his last day at Ignite, where he has been working as CEO since May 2020. Prior to that, the now-former Ignite CEO was chief design officer at the firm’s Kuala Lumpur and Toronto offices since he started in 2015. It’s unclear what led to his decision to leave the company.

Ignite, formerly known as Tendermint, is a core contributor to the Cosmos ecosystem. During Zhong’s time at the firm, many knew him for developing the first Cosmos crypto wallet, Voyager, later renamed Lunie, and helping facilitate the introduction of liquid staking to the ecosystem.

Co-founded by software developers Jae Kwon and Ethan Buchman in 2014, Cosmos allows interoperability between blockchains by making information flow and transactions seemingly easier to execute. Kwon left his position as Tendermint CEO in 2020, but returned following the company’s rebrand in May creating Ignite and NewTendermint – he is now CEO of the newly branched firm.

Related: ‘We’ll see about 200 chains connected through Cosmos’ IBC next year,’ says Tendermint CEO Peng Zhong

According to data from Cointelegraph Markets Pro, the price of Cosmos (ATOM) is $8.09 at the time of publication, having risen more than 3.5% since Zhong’s announcement.

Cointelegraph reached out to Jae Kwon and Peng Zhong, but did not receive a response at the time of publication. This story may be updated.

All Dutch and English crypto news!

US lawmakers appeal directly to 4 mining firms, requesting info on energy consumption

Four members of the United States House of Representatives from the Energy and Commerce Committee have demanded answers from four major crypto mining firms in...

A sharp drop in TVL and DApp use preceded Avalanche’s (AVAX) 16% correction

After an impressive 73% rally between July 13 and Aug. 13, Avalanche (AVAX) has faced a 16% rejection from the $30.30 resistance level. Some analysts...

Ripple partners Travelex Bank to launch XRP-enabled enterprise payments in Brazil

Ripple's partnership with Travelex Bank will see customers of the locally regulated bank benefit from XRP-powered cross border payments settled on RippleNet's On-Demand Liquidity (ODL)...

Nigeria aims for millions of new eNaira users as it increases features, targets unbanked

The eNaira, Nigeria's central bank digital currency (CBDC), will enter the second phase of its expansion with new technology to beef up its user base,...

Beste exchanges

Koop je crypto bij Bitvavo