97% Down — Andre Cronje Exits Sonic Labs Board as S Token Continues to Sink Lower
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Bitcoin.com
BITRSS97% Down — Andre Cronje Exits Sonic Labs Board as S Token Continues to Sink Lower
Andre Cronje, Michael Kong, and David Richardson resigned from the Sonic Labs board this week, handing control of the struggling layer-one (L1) project to a new executive team. The three founding board members built Sonic Labs, formerly the Fantom Foundation, from the ground up. Cronje served as chief technology officer and is known across DeFi […]
Sonic Labs Names New CEO and COO as Cronje Exits Board
Why Is Sonic Labs Changing Leadership? Sonic Labs, the research and development firm behind the Sonic blockchain, has announced a major leadership overhaul after a prolonged decline in token price, network activity, and investor confidence. The company said longtime board members Andre Cronje, Michael Kong, and David Richardson are resigning. Matt Visser has been named chief executive officer, while Kosta Kourkoumelis has been appointed chief op…
Andre Cronje, one of the most influential figures in decentralised finance (DeFi), has left Sonic Labs’ board of directors with co-founders Michael Kong and David Richardson. The announcement, made on June 20, 2026, triggered a storm: the native S token collapsed by 40% in a few hours and was brushing its historical minima. The massive departure of capital also dragged the blocked total value (TVL) to levels that no one imagined a year ago. A ye…
Andre Cronje Resigns from Sonic Labs Board as Token Slump Continues
Prominent Decentralized Finance (DeFi) developer Andre Cronje, a key figure in the space, has resigned from the board of Sonic Labs, formerly known as the Fantom Foundation. The corporate registry updates also show two other directors have stepped down from their positions. Andre Cronje and two other directors have left the Sonic Labs board. This occurs as Sonic Labs’ native token, S/FTM, trades about 97% below its all-time high. Sonic Labs, th…
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