David Sonstebø is no longer part of the Iota Foundation, the nonprofit he helped found and recently headed.
According to a statement from the Iota Foundation, the organization has “parted ways” with Sønstebø. It states that this is “a unanimous decision by the Stewardship Board in the interest of Iota and its ecosystem.”
The announcement stated that the interests of the project were “at great odds” with the founders. His photo and resume had already been removed from the Iota website and his email address returned. “The divorce decision had to be made, even if it was difficult,” the foundation said, adding:
“There have been a few occasions where David’s actions have not been in line with what the organization stands for and who we want to be.”
Board members added: “While this may shock many, you must acknowledge that the organization is prepared to take difficult decisions to protect the public interest.”
Sønstebø founded Iota in 2015, a project developed for the Internet of Things, and has been a co-founder and co-chair of the Iota Foundation since 2017. It was unclear to the board of directors whether Sønstebø would be involved in the project in any capacity. But he added that he “will forever remain the founder of Iota”.
When it comes to organizational structure, an organization has its share of drama. In 2018, a series of posts on the company’s internal Slack channels discussed the two founders of the organization who were not included on the board of directors, and suggested that the current members step down to make room.
Today’s reaction to the news on social media broadly supported the foundation’s statement.
“This is really good news.” Reddit user 4745454B said some of the founders were unable to develop the project. “Iota appears to be preparing companies for more than just technology.”
“I’ve sold Iota a long time ago, mainly because of how poor the management is,” Redditor told CalculatedLuck. “Some of the letters that came from [Sunstabo] were very unprofessional. Maybe this doesn’t instill much confidence in the people who are still HODL colleges.”
Sønstebø has a reputation in the coding room for uplifting in a number of topics related to Yota and other areas. He even admitted sarcastically that his behavior was “extremely disturbing and unprofessional,” in response to a Twitter user who contacted him on social media:
The Iota network is currently developing a three-step plan to remove the coordinator, a strategy called “co-ordination.” The Iota 2.0 decentralized network is expected to be fully completed in the first quarter of 2021.
At time of publication, the Iota (MIOTA) is valued at $ 0.28 after falling 16.9% in the past 24 hours.