Io.net, a company that provides decentralized infrastructure based on the Solana blockchain and offers the ability to rent GPU power for money, replaced its CEO just two days before the launch of the project's token.
Io.net co-founder Ahmad Shadid left his post "effective immediately" and was replaced by fellow founder and former COO Tori Green.
The Solana-based AI project pools GPU supplies to create a network that allows machine learning startups to leverage computing power at a fraction of the cost of traditional cloud.
In his June 9 post, Ahmad Shadid said, âWhile there have been allegations regarding 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.â .
Ahmad Shadid did not directly respond to the âallegations,â although critics believe that he misled the community about the actual number of GPUs offered by Io.net.
Additionally, on April 28, the network suffered a GPU metadata attack that temporarily reduced the number of active GPU connections from 600,000 to 10,000.
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