Mr. Jae Kwon, CEO of Cosmos, which operates the token (ATOM), has revealed his intention to leave the cryptocurrency project.

Cosmos is a crypto project that only came to prominence last year.

Valued at approximately $850 million, Cosmos is among the leaders in PoS verification.

It is now expected that the CEO will apparently leave the project towards a side project, which was revealed by the Twitter account “@daily_defi”, which was also hinted at by “Cosmos CEO Jae Kwon” also in a tweet following up on the main news.

Kwon explained that he is only leaving to finalize his transfer plans.

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However, the news is still unconfirmed at the time of writing this article.

He tells Kwon that he will remain as a member of the Interchain Foundation as a member of the board without clarifying what his responsibilities will be.

Kwon’s main focus will be on “Virgo”, a project linked to “Cosmos” in which he focuses on combating climate change.

I will only leave after the relocation plans are finalized, and I will still be involved with the ICF as a board member. I don’t “leave” the universe, it pretty much works without me as we speak. I’m focusing on the AIB process that also governs the division of the universe.

– Jae Kwon (@jaekwon) January 29, 2020

Leaving “Cosmos”:

This news comes as a shock to many in the crypto industry, especially since the “Cosmos” project is still in the process of being started and established.

Some of the responses were quick to guess the CEO’s move as an attempt to get out of a “scam”.

While others defended him and sided with him, telling him that he does not have to be attached to the “Cosmos” project.

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His job is not to babysit Cosmos. The network operates independently. A large number of developers are building on Cosmos regardless of its activity as a “cover” how far Ethereum could go if one could take down Vitalik today. First, it will hurt ETH but it will benefit it in the long run

– Cosmos and Coffee ☕ (cosmos_forum) January 29, 2020

Kwon supposedly justified his departure “transparently” as he opposed “people worship” and tried to downplay the severity of his departure.

But he posted this time through his alternate account on Twitter yesterday, in which his response came as follows:

Good news, I believe I can continue to be strangers to all for the good of humanity, exploring and defining frontiers, and I believe our company can stand behind that, so that we no longer have to worship heroes.

– Cosmuhammad Bitcoin Jaesustein (@jaesustein) January 29, 2020

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Project Virgo and Climate Change:

The new project that Cosmos CEO will be heading to is now called Virgo.

The project has been described as a “sub-mission” of Cosmos, and its goals remain vague.

What was stated in the text of the project’s website Virgo:

Giving everyone the necessary tools to coordinate and solve the problems of local issues all the way to global crises.

So far, “Cosmos” has not provided an official statement explaining whether or not the CEO of the project has left.

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