Ignite Cuts Headcount by More Than 50%

Ignite, the company that originally founded the Cosmos blockchain ecosystem, has parted with more than half its employees this week, two ex-employees and a source close to the company told CoinDesk.

The news came after Ignite CEO Peng Zhong announced on Friday he would be leaving the company. According to one of CoinDesk’s sources, Zhong was also joined by other top executives at the firm. Against the backdrop of a contentious re-organization, the high-profile exits at Ignite place the firm’s future in question.