Lead IOTA Developer Sells All His Tokens to ‘Avoid Conflict of Interest'

[cheezcarls]

Sergey Ivancheglo (also known as ‘Come-from-Beyond’ on Discord) has announced that he has sold all of his IOTA. His reasoning was that it was too much of a ‘conflict of interest’ to hold them.

Sergey Ivancheglo has been a core member of the IOTA ecosystem for some time and was even on the IOTA Foundation Board of Directors over a year ago. Announced in a blog post from August 2018, he is described as ‘one of the founders of IOTA’ and a ‘core developer of the reference implementation.’

You can find more about this news right here

I have a question to you guys, especially those who are token holders and supporters of IOTA. Now that the co-founder and lead developer has sold all of his tokens to "avoid conflict of interest", what are your honest thoughts about this?

I know the feeling of most IOTA supporters when it comes for one or a few development team members who are selling their tokens (especially if "all of them"). As this news came out, correct me if I'm wrong, but maybe this is the reason why Bitcoin fell below $9k instantly and IOTA declined to 3.26% as of today.

Can you guys share your honest thoughts and opinions of this one? Thanks in advance and have a happy weekend ahead!

[tadpole_bitfrog]

In my opinion this is the most ridiculous reason and just a way to deceive investors. they have the right to sell their tokens for minor reasons arising from their team, in the future they can also sell all their tokens because the team is no longer united.
This is a sign of a fraud project, I think it will not last long.

[bittraffic]

I'd be one of those who will be disappointed and will probably drop the support by selling my coins too.  Lucky for those who hold IOTA because I don't have a stash of it.  The project is good though even after he dumped his share I guess the coin still ranks pretty high on the market. Its too risky to get your tokens to be in the sell order,  a mad buyer might just be on the loose to buy stash of IOTA.

Why is the article doesn't mention about what this Avoid Conflict of Interest mean?

You kept spamming your website. in all your post you have this beincrypto blog.

[Snowwy]

I don't think this is a good sign for the project. He didn't even talk about the detail of the conflict of interest that made him sell it off. This means other developers of the project can also sell it off at any time and if they don't have money to gain from it again, will they still be motivated to continue with the project? This is not good for the project at all