Crypto News, News CEO Steps Down, Donates 1M Tokens To Boost Ecosystem

By Eric George


Reviewed by: Eric George

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Ahmad Shadid, the CEO of has stepped down from the position.

Shadid announced the news on his official X account, addressing the IO Nation community. On June 9, 2024, yesterday, he tweeted this. The time of the post is 5:03 PM.

Let us look deeper into the context

His posts started by addressing the community as $IO Nation, and he directly stated that he was stepping down as the CEO of

He added that the decision was effective immediately. Shadid continued about the growth and progress of the company and the current global position it holds among the decentralized companies.

Shadid’s post read that has grown to become one of the quickest-growing companies in the global decentralized AI sector. He said that he arrived at the decision of stepping down as the CEO after careful consideration.

It was added by him that for him it occurred that the best decision when considering the interest of both the community as well the project would be to have Tory Green to hold the CEO torch.

He did not decline the allegations that he faced in the past, rather he acknowledged them. Shadidi added that he wanted to emphasize that his current design has nothing to do with the past allegations.

Rather it was an action that would enable to move forward and completely focus on growth and success without any other distractions.

Furthermore, Shadid expressed his gratitude for the company. He said that he was deeply grateful for the support and dedication of their team, partners, and the whole community.

He said that it was his support and dedication that helped him and his team build the that we see today.

He also added that in order to show his gratitude he would make a donation worth 1M $IO from his personal $IO coins towards the Internet GPUs Foundation of He intends to donate this as a token of gratitude to help the ecosystem grow further.

From Tory Green

The latest reports also suggest that Tory Green is supposed to take charge as the next CEO. Let us look at what Tory Green had to say about the recent developments.

Tory Green acknowledged the decision and stated that he was honored to take over as the CEO of the company. He further acknowledged that it was Shadid who laid the foundation of the company. Green shared his visions to go further with the mission that has.

From his statements, we were able to understand that currently, supports around 20,000 cluster-ready GPUs which are ready to provide AI services to different companies. The various companies to which provides service include Krea, WonderAI, and Leonardo.

Green also provided brief information about the future roadmap of the crypto project. The IO token launch is scheduled to happen on the 11th of June. The launch of the IO token is expected to be one of the milestones in the journey of the company.

It has the potential to take the company to advanced landscapes. It is one of the most anticipated events of all the crypto analysts all over.

What is the mission of

What is the huge mission that has which made the stepping down of Shadid as the CEO and Green’s taking charge of the company a necessity? If you are someone who closely follows all the news in the crypto world, you know this. Let us look more into it. CEO holds a future-oriented and ambitious mission for the coming days. This decentralized AI company has a mission to build the biggest decentralized AI computer network.

Also, Read: Io.Net (IONET) Token, Targets New Heights In Crypto Space

Final Thought

It seems that has all geared up to start a great journey. There is an upcoming launch and the company has a big mission to follow and pursue. The latest speculation sheets that all this may lead to an increased demand in the case of crypto.

You need to closely monitor’s latest growth to know all about crypto, especially if you are planning to invest in it.

Eric George

Eric George, a retired journalist, focused primarily on market research and current tech trends. With a career spanning news media, he made significant contributions to understanding the intersection of technology and finance. Today, he continues to engage with these topics in various capacities

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