EOS Price Dumps By 25%

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Dan Larimer, the blockchain entrepreneur that co-founded the company behind the popular project EOS, has left his position after four years. Interestingly, the native cryptocurrency EOS has reacted immediately with a vigorous price drop of about 25%.

  • Larimer, who served as Block.one’s chief technological officer, has resigned from his position at the company as of December 31st, 2020. 
  • “I will continue on my mission to create a free market, voluntary solutions for securing life, liberty, property, and justice for all. I do not know exactly what is next, but I am leaning toward building more censorship-resistant technologies.”

  • It’s worth noting that a day before announcing his resignation, Larimer asserted that he’s “boycotting Twitter.” He reasoned that “the censorship has gotten out of control, and I can no longer empower such a corrupt company.”
  • Larimer was most probably referencing Twitter’s latest actions to ban the account of US President Donald Trump. Nevertheless, numerous other social media platforms did the same after Trump’s controversial recent comments.
  • As such, he doubled-down once more during his resignation announcement that his focus will be “on creating tools that people can use to secure their own freedom.”
  • EOS, the native cryptocurrency of the blockchain project EOSIO, plummeted in value following Larimer’s resignation. The token traded at near $4 before dumping by more than 25% to an intraday low of $2.95.
EOSUSD. Source: TradingView

 

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