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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.
Peng Zhong, the CEO of Ignite, announced his last day on Twitter Friday. Ignite is the company behind the founding of blockchain ecosystem Cosmos.
Today is my last day at Ignite. Thank you for the camaraderie we shared as we built out this ecosystem. It's been an honor to be a part of this team and this community. I will miss you. 💙
— Peng Zhong (nylira.net) (@zcpeng) July 1, 2022
STORY CONTINUES BELOW
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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.
Sam Kessler
Sam is CoinDesk's deputy managing editor for tech and protocols. His reporting is focused on decentralized technology, infrastructure and governance. Sam holds a computer science degree from Harvard University, where he led the Harvard Political Review. He has a background in the technology industry and owns some ETH and BTC. Sam was part of the team that won a 2023 Gerald Loeb Award for CoinDesk's coverage of Sam Bankman-Fried and the FTX collapse.
