Altcoins

Fantom (FTM) CEO Clears Confusion Over Andre Cronje’s Departure; FTM Token Down 15%

Michael Kong, CEO and CIO of Fantom (FTM) Basis has come ahead to clear the air from the latest Anton Nell’s assertion. Builders Andre Cronje and Anton Nell in a tweet introduced that they’re leaving Defi and crypto house. Builders’ declaration despatched the Fantom (FTM) and Yearn Finance (YFI) tokens in the direction of the freefall.

Will Cronje’s Departure have an effect on FTM?

Michael Kong in a thread of tweets clarified and defined how Andre Cronje and Anton Nell leaving the house won’t have an effect on any growth within the tasks. He termed all of the information floating in opposition to Fantom because the ‘misinformation’ and shared some updates. Earlier, Anton mentioned that there are 25 apps and providers that they’re terminating on 03 April 2022.

FTM CEO directed that the builders are ‘terminating their involvement’ in 25 completely different tasks and never ‘terminating the tasks’. The work will likely be handed over to the prevailing groups after their exit. He highlighted that these tasks will likely be not be closed down as a few of them are already been working independently for years.

For Fantom, Kong mentioned nothing will change right here operationally and warranted that every one the builders are working arduous on the subsequent updates.

Nonetheless, Fantom Basis, yesterday, tried to clear the confusion over Andre Cronje and Anton Nell’s resolution. The FTM reassured that they don’t seem to be a one-man staff and they won’t be impacted by Andre’s resolution.

Cronje’s resolution left FTM 15% down

Cronje’s resolution to exit the business left cryptocurrencies related to him bleeding. yearn.finance (YFI) and Fantom (FTM) noticed a freefall simply after the announcement. It’s being reported that yesterday, YFI dropped by 13% whereas FTM plunged by 15 %. It’s being reported that Cronje’s departure rumors began from social media when he modified his bio on LinkedIn.

Nonetheless, FTM noticed an increase of round 2% within the final 24 hours. The coin has been buying and selling at a median worth of $1.44, on the press time. Whereas its 24-hour buying and selling quantity of $2,136,473,923 noticed an uptrend of 54%.



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