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IOTA’s Co-Founder Sells His MIOTA Coins, Community Led to Believe IOTA Goes Beyond Crypto

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Thu, 11/14/2019 - 09:12
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Yuri Molchan
IOTA’a co-founder Sergey Ivancheglo says he quits working in crypto and has sold all of his crypto holdings, some now believe that IOTA’s overgrown being a mere coin
IOTA’s Co-Founder Sells His MIOTA Coins, Community Led to Believe IOTA Goes Beyond Crypto
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A short while ago, one of the IOTA founders, Sergey Ivancheglo stated that he leaves the cryptocurrency sphere and sells all of his MIOTA coins. That was announced during a Discord AMA session, reports Micky.

Leaving IOTA for good

Ivancheglo said that he leaves the IOTA Foundation so as to avoid the conflict of interests since he also works for other blockchain projects. He confirmed that his work on Qubic and Aigarth (both are IOTA-based projects) will continue. However, he does not want to deal with crypto any longer.

Ivancheglo did not name any other particular projects he is engaged with.

Earlier this year, in summer, he quit the IOTA’s board of directors and since then worked as an independent IOTA developer.

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The community believes IOTA is much more than crypto now

In the comment thread, some of the IOTA community members assumed that Ivancheglo is quitting and selling all of his MIOTA stack due to one big reason – IOTA has evolved into a real protocol instead of being a mere cryptocurrency.

However, opinions split here.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.