Suspicious move by the CEO of the project: He resigned two days before

The CEO of Solana-based crypto project IOnet resigned two days before the token was launched.

solana The AI ​​project is bringing together GPU supplies to create a network so machine computing startups can leverage computing power at a much lower cost than the traditional cloud., which offers such a technology, caused confusion with the resignation of its CEO.

Ahmad Shadid, one of the founders of, left the project two days before the token’s launch and was replaced by fellow co-founder and former chief operating officer Tory Green. “While there are arguments about my past, I would like to emphasize that I am stepping down as CEO to allow to move forward without distraction and to focus on its growth and success,” Shadid wrote to

A chilling claim for the resigned CEO token IO will be launched on June 11 at 15.00 Binance It will be released on ‘s Launchpool. At launch, 95,000,000 IO tokens will be released and a maximum supply of 800,000,000 IO tokens will be available for circulation. The timing of Shadid’s departure raised concerns that Shadid would dump IOs as soon as they were released.

Shadid responded to the accusation by claiming that IO is subject to a 4-year lock-in and no investor, advisor or group member will be able to sell their monthly earned tokens until June 2025. Shadid also said that the company will individually contribute one million IO tokens to the Internet of GPUs Foundation to “help grow the ecosystem.”

The CEO, who announced his resignation, did not explain whether he would remain committed to the ecosystem. Additional leadership changes at will be announced in the coming days, according to new CEO Green.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.

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