Dan Larimer Quits Block.one, EOS Token Falls 16%

Dan Larimer today announced his resignation from his position as Chief Technology Officer on the crypto project Block.one. In a blog post on Voice, a social network platform built on the EOS blockchain and founded by Block.one, Larimer said that he had formally resigned on 31 December, 2020. 

“Alas, all good things must come to an end,” wrote Larimer. His tenure with Block.one began in April 2017. Block.one hit the crypto world’s headlines that same year when it raised $4 billion in an Initial Coin Offering to build EOS, a rival blockchain to Ethereum. In 2019, they were subsequently fined by the US Securities and Exchange Commission for $24 million. 

On his next steps Larimer says:  "I will continue on my mission to create 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.”

His hinting at “censorship resistant technologies” is entirely consistent with his recent post history on Voice, where he has published articles with headlines like: “Over half my Twitter followers support rigged elections,” “I’m boycotting Twitter,” and “The Next Step to Defend our Freedom of Speech,” it’s likely that Larimer’s next move could be political. 

Block.one’s EOS coin fell 16% today in response to Larimer’s departure. Unlike most other coins, EOS’s performance over the last year has left little to get excited about. Its 2020 high came on 13 February when it was trading at over $5. The price plummeted to a low of just under $2 by 16 March, though its performance throughout the apex of Bitcoin’s festive bull run has stabilised it somewhat.