DigiByte founder leaves his project, but not the coin

DigiByte founder leaves his project, but not the coin

  • DigiByte founder returned to Twitter with another series of tweets after the coin's price crashed by 20%.
  • After announcing that he is stepping down, Jarred Tate wanted to stress that he is not selling his DGB.
  • In fact, he said he plans to keep hold of it, and keep working on developing commercial applications.

Several days ago, Jared Tate, the founder of a crypto project DigiByte, announced his plans to step down from his position. He left a lengthy announcement noting his disappointment with the greed he had encountered in the crypto industry. He remembered how many times he was betrayed, and noted that the crypto industry has almost nothing of its original core values.

Tate’s announcement attracted quite a bit of attention, including Twitter trolls. More than that, it caused the price of DGB to crash by around 20% since he announced his departure.

DigiByte founder won’t get rid of his DGB tokens

Of course, it is not uncommon for crypto project founders to abandon their projects, although it is also not strange that the price of the project would crash, in the event. Tate now wanted to make it clear that he has no intention of selling his DGB coins. In other words, his wishes to point out that his departure truly revolves around what he said, and that it is not his attempt to justify abandoning a sinking ship.

In another series of tweets, Tate stated that he still owns 99% of all his crypto in DGB, and that he doesn’t plan to change that anytime soon. He doesn’t seem to believe that DGB needs him in order to be a good project. In fact, he believes that it is time for DigiByte to shine on its own.

This is rather similar to the reasons Vitalik Buterin gave when he spoke of withdrawing from being the public face of Ethereum. Of course, he still remained a part of the team as a developer, although he believed that people should see and consider ETH, and not himself when assessing the project.

Now, Tate is doing the same thing, stating that he is simply stepping away from social media and taking a well-earned summer sabbatical. That is not the same as leaving forever and selling everything, he said on Twitter.

DigiByte price crashes, but stays higher than two months ago

Tate said that he will not be leaving permanently. Instead, he declared his intention to keep building commercial applications on DigiByte’s blockchain. Obviously, he would not have bothered if he thought that the project is doomed, which confirms his words that he still believes in the project.

Even so, DGB still saw a sharp drop, although that might simply be the usual market volatility. The coin did see a 930% growth in only two months, and a correction had to have come sooner or later. Even after the drop, DGB still has a price that is much higher than two months ago, currently sitting at $0.015357.

By Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications. Raza is the co-founder of 5Gist.com, too, a site dedicated to educating people on 5G technology.

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