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The market continues to be uncertain, and Bitcoin has dropped back to the $26,400 region. Altcoins have turned red again. Amidst all this, the resignation of a high-ranking official in a popular altcoin due to the FTX incident has made headlines. So what does the resignation of Near’s CEO mean?
Near Coin News
Marieke Flament, the CEO of the NEAR Foundation, announced her resignation from the organization behind the crypto project. Flament, who has held this position for two years, will be succeeded by Chris Donovan, the foundation’s general counsel. Flament will continue her role as Donovan’s strategic advisor until the end of the year. She will also remain active on the board of directors.
Flament recently stated the following regarding her resignation:
“When I joined two years ago, NEAR had around 50,000 users, and now we have over 2.5 million active users daily.”
She also added that Donovan is highly suitable for the CEO role considering the “current regulatory environment.” The project, which suffered a significant blow after the FTX collapse, experienced similar losses in terms of Total Value Locked (TVL) as Solana. Near is currently ranked 34th in terms of TVL. Considering that competitors’ names are not well-known, we can better understand the decline.
Near Coin Announcement
Just two minutes after the resignation news, the Near team published a new post on their official blog. Important topics about the project’s future were discussed here. The team aims to signal that they will continue to stay strong after the resignation. The main purpose of the post was to announce the resignation and what will happen in the future.
Here are some important excerpts from the announcement:
“The vision of the NEAR Foundation is an Open Web where users have true ownership of their data and assets and have the power to create value, ownership, and governance opportunities in permissionless systems. The ultimate goal is to enable billions of users to join the Open Web. (Before this section, they mention their support and goals for Web3) In recent months, there have been discussions between the NEAR Foundation leadership and the NEAR Foundation Council (NFC) on the foundation’s strategic direction and how the foundation can best support the development of the NEAR ecosystem to achieve this broader vision.
As part of this, Marieke Flament chose to transition to a position on the council to support the ongoing development of the foundation. Chris Donovan, the foundation’s Chief Legal Counsel, will serve as CEO and work closely with the NFC and the broader ecosystem on the foundation’s development plans. Chris has been working with the foundation for over a year since joining from Outlier Ventures and has extensive experience in the web3 space.”
