Fantom crypto coin problem (FTM Token)

[Mic Drop]

The Fantom Foundation, the organisation behind the famous FTM token has now commented fully on the departure of advisor and ‘DeFi Godfather’, Andre Cronje, from the decentralised finance space.

Recent days saw Cronje delete his social media and announce, via a friend, Anton Nell, that he would be permanently leaving the industry.

Cronje and Nell were two of FTM’s most well-known developers and their departure has caused a disturbance in both price and community action.

In the wake of a damning piece by Rekt, the Fantom Foundation responded with the following:

“Andre and Anton did not ‘terminate’ 25 projects. Instead, any involvement (such as user interface) in these projects was to be handed over to the existing teams, many of whom had been developing and running independently.”

The foundation further explained that neither Cronje nor Nell were ‘core’ developers for Fantom.

Nonetheless, Fantom’s TVL appears to have fallen from $11.26 billion to $8.27 billion in the aftermath of the announcements.

https://cointelegraph.com/news/fantom-foundation-issues-clarification-statement-about-departure-of-andre-cronje-and-anton-nell