Ignite CEO announces departure after seven years

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Peng Zhong, CEO of Ignite – formerly Tendermint and supporter of the Cosmos ecosystem – has announced that he is leaving the company.

In a Friday tweet to his more than 20,000 followers, Zhong said that Friday would be his last day at Ignite, where he has served as CEO since May 2020. Prior to that, the former CEO of Ignite was currently the chief design officer at the company’s Kuala Lumpur and Toronto offices since He started in 2015. It is unclear what led to his decision to leave the company.

Ignite, formerly known as Tendermint, is a major contributor to the Cosmos ecosystem. During Zhong’s tenure at the company, many knew him for developing the first Cosmos crypto wallet, Voyager, later renamed Lunie, and helping facilitate the introduction of liquid storage into the ecosystem.

Founded by software developers Jae Kwon and Ethan Buchman in 2014, Cosmos enables interoperability between blockchains by making information flow and transactions easier to implement. Kwon left his position as CEO of Tendermint in 2020, but returned after rebranding the company in May to create Ignite and NewTendermint – and is now CEO of the newly minted subsidiary.

Related Topics: “We will see about 200 connected chains through Cosmos’ IBC next year,” Tendermint CEO Peng Zhong said.

According to data from Cointelegraph Markets Pro, Cosmos (ATOM) is priced at $8.09 at press time, having risen more than 3.5% since Zhong’s announcement.

Cointelegraph has contacted Jae Kwon and Peng Zhong, but has not received a response at press time. This story may be updated.

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