Scandal
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⛔️io.net CEO left protocol two days before token launch⛔️
Ahmad Shadid, one of the founders of io.net, left the position "effective immediately" but said it was not related to allegations about his past.
Solana-based decentralized infrastructure provider io.net, which allows users to rent their GPU power in exchange for money, replaced its CEO two days before the project's token launch.
Ahmad Shadid, one of the founders of io.net, left his position “effective immediately” and was replaced by the co-founder and former COO; Tory Green.
Solana-based AI project adds GPU offering to create a network that machine learning startups can leverage to access computing power at a fraction of the cost compared to traditional cloud
"While there have been allegations about my past, I want to emphasize that I am stepping down as CEO to allow io.net to move forward without distractions and focus on its growth and success," Shadid posted on X on June 9.
Shadid did not directly address those “allegations,” although critics believe he had misled the community about how many GPU chips io.net actually offers.
The network also suffered a GPU metadata attack on April 28, causing the number of active GPU connections to temporarily drop from 600,000 to 10,000.
