SafeMoon receives another setback: its CTO, Hank Wyatt, has announcedto leave the project. The future of SafeMoon Coin is now apparently uncertain.
In a tweet posted on Thursday, Wyatt said: It was a difficult decision he had to make. However, he did not give details of the circumstances of his departure. This has only fueled speculation of unrest within the company.
The staff were very friendly and helpful. However, I’m excited for the future and can’t wait for the next chapter of my life to begin!
– Hank Wyatt (@Hankusun) September 9, 2021
SafeMoon has failed to meet the August 28 deadline for the release of its native wallet app, leading some to question whether Wyatt’s departure is in any way related.
Anyway: Both incidents have given the naysayers extra ammunition with which to criticize the project. Is this the beginning of the end – or can SafeMoon recover from it?
Investors react to Wyatt’s departure
In response to Wyatt’s tweet announcing his departure, the most common question is: why? Wyatt has not yet responded to this, which has led to massive speculation about the possible reasons.
Some suggest that the delay in wallet release is his responsibility, since he is CTO. According to this, his exit at SafeMoon was simply a case of “going before he is gone”.
Another user claimthat most of the members of the SafeMoon team received their roles due to nepotism and not because of their abilities. This means that there is a huge deficit of skills and experience to move the project forward. From this it follows that the pressure on people who are in this position is too great.
“At least half of the original “team” consisted of either friends, family members, influencers or life partners who lacked experience, whether in a leadership position, in the public sphere or in software development. Several have to be replaced, Thomas goes next.“
Wyatt’s LinkedIn shows that he has a degree in Computer Software Engineering from the University of Pennsylvania. After a four-month internship in 2016, he started his own video game entertainment company called HLWGroup.
When SafeMoon was founded in March 2021, he served as CTO while continuing to lead HLWGroup.
What’s new about the SafeMoon wallet?
The release of the native SafeMoon wallet was scheduled for August 28. The price of $ SAFEMOON rose 110% from its local low on August 18 in anticipation of the launch.
But on August 28, an official announcement from the SafeMoon Twitter account said that “unforeseen technical difficulties” had delayed the launch of the wallet. The price of $SAFEMOON has been in a downtrend since then.
Two days later, an update repeated the problems caused by technical causes. However, as in the first message, the problems did not continue. The team finally thanked everyone for their support and patience, adding that the wait will be worth it.
The latest response, published on Tuesday this week, now states that tests are still ongoing and publication is imminent.
Text credit: Cryptoslate
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