Block.one CTO resigns

Daniel Larimer, the CTO of Block.one, has officially announced his resignation from the Block.one team. Shortly after making the announcement, the price of Block.one’s EOS token plummeted, falling from $3.87 to $2.55, roughly 35%.

Larimer announced his resignation via a blog post, saying, 

Alas, all good things must come to an end. As of December 31, 2020, I have resigned my position as CTO of Block.one 

I will continue on my mission to create free market, voluntary solutions for securing life, liberty, property, and justice for all. I do not know exactly what is next, but I am leaning toward building more censorship-resistant technologies.

A serial-entrepreneur that launches then leaves

However, this is not unusual for Larimer, who has a history of playing a significant role in getting a blockchain-based project off the ground and resigning later on. Larimer played crucial roles in the launch of BitShares as well as STEEM but went on to resign from each project before playing a critical role on the Block.one team–which he has now resigned from.

The launch of Block.one did not come without conflict; Block.one was one of the first digital currency companies sued by the SEC. The SEC claims that from 2017-2018–when Block.one conducted the ICO for the EOS token–that Block.one conducted an unregistered securities sale. During their ICO, Block.one raised an astonishing $4.1 billion, and when they resolved their dispute with the SEC, they only had to pay a fraction of the money raised, settling for a mere $24 million. 

Regardless of Block.one’s legal dilemmas, Larimer has a solid track record of serial-entrepreneurship–starting businesses that take off and then eventually leaving those businesses to launch a new venture. Given his track record and the statements he made when he announced that he was resigning from Block.one, Larimer will most likely be launching a new business in the near future.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.