BNB 0.29%
BTC 0.88%
DOGE 4.06%
ETH 0.65%
PEPE 5.08%
XRP 1.26%
SHIB 1.82%
SOL 0.74%
presale is live

EOS Slumps, Holders Rage after Key Technical Boss Steps Down

Tim Alper
Last updated: | 1 min read

EOS token prices are in a tailspin, following the news that blockchain developer Daniel Larimer is stepping down from his role as chief technical officer (CTO) at Block.One, the firm that masterminded the network.

Dan Larimer. Source: EOS

At the time of writing (10:20 UTC), EOS is the worst performing coin among the top 70 cryptoasset by market capitalization while many other cryptoassets are down in double-digits today. It trades at USD 2.76 and is down by almost 26% in a day, erasing almost all gains in the past week. The price is also down by almost 2% in a month and 11% in a year.

Larimer claimed that he wanted to focus his efforts on the development of “censorship-resistant” technologies in what can only be perceived as a massive blow for EOS.

And both the market and the crypto social media space does not appear to have taken the news well, with Eric Turner, Messari’s research chief, tweeting,

“The EOS Reddit is not a happy place right now.”

Indeed, the Reddit community in question is currently full to the brim of accusations and declarations of EOS holders’ intentions to quit the space, with one claiming that the “jig is up” and calling Larimer’s move “the final nail in the coffin for this coin.”

The news was made public in a post on The Voice, the Block.One-run social media platform, where the former CTO stated,

“I will focus my attention on creating tools that people can use to secure their own freedom. I wish Block.One the best with their future endeavors.”

“I have come to believe that you cannot provide ‘liberty as a service,’” he added.

And in a cryptic but ominous-sounding Twitter post over the weekend, he stated, that he was “abandoning” Twitter adding that it would be the “last chance to download certain apps from Apple,” possibly referring to recent Capitol Hill-related events.

Latimer joined Block.One back in 2017 and is thought to have been the driving force behind the Steemit platform.
Learn more:
US Election Results Written on Ethereum and EOS Blockchains
From USD 150k to 30m: How MicroStrategy CEO Sold To Block.One
Overnight Move Fuels EOS Decentralization Debate