Cryptocurrency News

DigiByte founder “exits” after a 900% rally

DigiByte (DGB)

DigiByte was founded by Jared Tate and released to the public in 2014. The blockchain-based project aimed to create a very fast digital currency that could be used for digital assets, smart contracts and secure authentication.

Since then, the blockchain’s native asset DGB has grown to become the 34th largest crypto-asset by market capitalisation.

Founder Exit

The founder, Jared Tate, tweeted a thread earlier about the community’s greed and why he’s leaving. He stated: “No I do not speak for everyone in the #DigiByte community but I do speak for myself & I will not quietly sit back & watch the fundamentals of what I spent the most creative years of my life to build be coopted & eroded by greed. The original values of this industry are gone”.

One of the questionable statement he made, because of his timed exit, was the following: “I cannot count the amount of people I have had over the last half decade stab me in the back and attempt to use me and/ or DigiByte for a quick buck. Even close friends & confidants. It gets old. The truth is no permission is required to build on top of and use DigiByte”.

900% Rally

Since Black Thursday, DGB has gained tremendous ground against the dollar. It rallied by over 900% in under two-months. A second thing to note is the excessive volume seen on this parabolic run which has not been typical of DGB for the past couple years.

This unusual and unexpected rally, paired with the surprising volume and the timed resignation of the founder has led many to assume that this was indeed a manipulated rally.

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