Ignite CEO Peng Zhong Announces Departure Shortly After Re-Organization
Zhong’s exit comes weeks after the company’s former CEO, Jae Kwon, said he is re-joining the company as the CEO of spinoff New Tendermint.
Jul 1, 2022 at 4:24 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/6XTJCGOQPNGKHAENDCZBC5XNEE.jpg)
(Unsplash/Oscar Sutton)
Peng Zhong, the CEO of Ignite, announced his last day on Twitter Friday. Ignite is the company behind the founding of blockchain ecosystem Cosmos.
Zhong’s departure comes just a few months after the company changed its name from Tendermint as part of a reorganization.
In May, CoinDesk reported Ignite’s former CEO, Jae Kwon, would be rejoining the firm. Kwon, one of Cosmos’s co-founders, left the company in 2020 after a widely publicized dispute with some of its employees.
With Kwon’s return the company announced Ignite would split into two: Ignite and New Tendermint, with Zhong continuing to helm Ignite and Kwon taking over as CEO of New Tendermint.
CoinDesk has reached out to Zhong and Kwon for comment.
This is a developing story. Check back for updates.
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