Jae Kwon Steps Down as Tendermint CEO After Six Years

Jae Kwon stepped down as chief executive of Tendermint Inc. on February 4, 2020. That day, CoinDesk published a report titled "What Is Going On With Jae Kwon and Cosmos?" Kwon had founded the company in 2014. He also built Cosmos, the blockchain software Tendermint sold and supported. Writing on his own GitHub page, he told the company it would stop running on one person's decisions. “Jae and company has decided that moving forward the company will adopt a more decentralized corporate 'Process' that is being developed along with the Virgo project,” Kwon wrote. Decrypt had reported the move five days earlier. On January 29, 2020, Kwon confirmed on Twitter that he planned to spend his time on Virgo, a separate project he had unveiled the previous October.