IOTA Foundation parts ways with David Sønstebø

The IOTA Foundation Board of Directors and Supervisory Board announce that the Foundation has officially parted ways with David Sønstebø. This comes after a unanimous decision, made by the Supervisory Board in the best interest of IOTA and its ecosystem.

David has been instrumental in founding the project and helping to build the initial team, vision and ecosystem. However, it has become clear that David’s interests and the interests of the IOTA Foundation have diverged significantly.

We want to thank him for his contributions and wish him success in his future entrepreneurial endeavors.

Addendum (10/12/2020, 7:54 pm CET):

IOTA is not about any one individual. The IOTA Foundation is a government-regulated and reputable non-profit that is a collective of more than 120 like-minded people, with a clear strategy towards how IOTA’s vision will be realized.

The decision to part ways, while difficult, had to be made. There were several instances where David's actions were not aligned with what the Foundation stands for and who we aspire to be. We respect David's privacy and the finer details are not important. We are thankful to David for founding the project and showing true leadership with his vision, entrepreneurial spirit and perseverance. He will forever be a Founder of IOTA and we appreciate what he has done for our organization.

The IOTA Foundation is stronger than ever. This is part of our maturation phase in realizing what was started some 5 years ago. So while this may come as a shock to many, you should recognise that the Foundation is willing to make difficult decisions to protect the interests of our community. This changes absolutely nothing about our delivery and strategy with Chrysalis and Coordicide, and things are progressing very well on both fronts.