The market capitalization of the Polkadot ecosystem fell by around 2.9% following the news of Gavin Wood’s departure as CEO.
Polkadot founder Gavin Wood announced On October 21st, I announced that I was stepping down from my role as CEO of Parity Technologies, the parent company behind the Polkadot and Kusama ecosystems.
Wood said his long-term passion is to be a thinker, coder, designer and architect. can return to full-time work.
“I will refocus my attention on exploring how I can contribute to making Polkadot and Web3 more relevant to a large portion of the population,” added Wood.
Following Wood’s resignation, Parity co-founder Bjorn Wagner will become the new CEO.
A majority shareholder of Parity Technologies, Mr. Wood will continue to serve on the Board of Directors, but will not be involved in the day-to-day operations of the company.
red polka dot ecosystem
polka dot ecosystem It has reportedly lost more than 2.9% of its market capitalization in the last 24 hours, reaching around $13 billion.
Polkadot’s DOT is down around 4.3% to trade at $5.84, while its sister Kusama (KSM) token is down 7% over the past 24 hours, according to CryptoSlate data.
Other top assets in the ecosystem such as Moonbeam (GLMR) and Astar (ASTR) lost 2.9% and 2.2% of their value respectively.