Andre Cronje, two others resign from Sonic Labs board as S token trades 97% below its peak
The Block·
60-second summary
Andre Cronje and two others resign from Sonic Labs board, stepping down from business decision-making roles for the Layer 1 network, formerly known as Fantom. They remain invested in Sonic's success. The move comes as S token trades 97% below its peak, highlighting the challenges faced by the network in maintaining investor confidence and market value.
Sonic Labs said the three "remain invested in Sonic's success" but will no longer make business decisions for the Layer 1 network, formerly Fantom.