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IOTA News and Price Analysis: Sirin Labs Cancels Partnership Plans with IOTA. Friday, August 10

10 august 2018, 23:33 by Jofor Humani

Important IOTA News

IOTA Founders Call Leaked Slack Chat A Emotional Outburst

IOTA may be courting a crisis as a result of the leak of a chat between some of its founders. The Slack chat shows that some founders are aggrieved that they have not been included as board members, a situation that caused one to call on the board chairman Dominik Scheiner to resign.

The leaked chat has been shared on many Twitter channels and has prompted the Foundation to issue a clarification calling it an “emotional reaction”. Foundations usually have internal byelaws with which they are governed and it happened that the names of two of the founders, Serguei Popov and Sergey Ivancheglo were not included as board members when the foundation was registered.

An aggrieved Ivancheglo called on Scheiner who has the sole right to nominate board members to resign, according to the leaked chat. The Foundation has already decided that the two members would be brought on board. In a comment released by the foundation, it stated,“Unfortunately, sufficient priority was not given to this open issue, and there was a failure to keep the missing board members informed about progress.”

Sirin Labs Cancels Partnership Plans with IOTA

The Sirin Labs Finney whitepaper originally stated that the Finney phone’s operating system will be developed using the IOTA Tangle blockchain, however the Sirin Lab’s CEO, Moshe Hogeg has recently said that his company will pursue a different path. This may not be unconnected with the recent controversy among the IOTA founders.

IOTA Price

MIOTA Price Affected By the Crisis In the Foundation  

Although the Foundation has moved to curb the effect of the leaked Slack chat, MIOTA the internal cryptocurrency of the IOTA ecosystem has taken a hit in the past seven days as a result of the controversy.

The coin is down by 23 percent much higher than the coin market’s average of 14 percent. The coin is currently trading at $0.6512 slightly up from the $0.615 to which it dropped, its lowest since November.

MIOTA/USD Price Chart, Friday August 10th:

IOTA News and Price Analysis: Sirin Labs Cancels Partnership Plans with IOTA. Friday, August 10

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