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Ethereum Classic director rebuts mismanagement claims

Ethereum Classic director rebuts mismanagement claims

A prime funder for Ethereum Classic resigned this week from the board of the ETC Cooperative after accusing government director Bob Summerwill of mismanagement in a damning public assertion. Summerwill refuted the claims in feedback to Decrypt.

James Wo, the founding father of enterprise capital agency Digital Finance Group, joined the non-profit ETC Cooperative as a board member in 2018. ETC Cooperative’s acknowledged function is to help the expansion and improvement of the Ethereum Classic protocol. Wo’s assertion claimed that he had witnessed “gross mismanagement” on the non-profit. 

“There is consistent mismanagement of finances, including funding for pet projects that have little value, and constant travel expenses that seem more professional than personal,” wrote Wo. “Bob hired his fiancé as the accountant, a textbook example of nepotism.”

He additional claimed that Summerwill had sown divisions throughout the Ethereum neighborhood: “He professes anti-tribalism, however makes use of the Cooperative to settle outdated scores with Ethereum, to bully those that disagree with him, or to jam via doubtful technical modifications with out neighborhood consensus.” Wo claimed Summerwill had referred to the Ethereum Foundation as a rip-off on Twitter. (Decrypt was unable to search out such a reference, and Summerwill denied making it.)

Wo’s allegations additionally appeared in a paid press launch on CoinTelegraph. (From whom isn’t clear.)  

For his half, Summerwill denied the accusations through correspondence with Decrypt. In actuality, he stated, “James was due to be removed from the board with cause at the [annual general meeting] which happened less than two hours later.” He supplied an agenda of the assembly to that impact. At that assembly, blockchain engineer Elaine Ou, Grayscale Investments authorized director Craig Salm, and ETCDEV advisor Roy Zou joined the board.

Summerwill addressed every accusation in flip. Pet tasks and monetary mismanagement, he stated, in all probability referred to Summerwill’s overseeing of potential modifications to the ETC hash algorithm. Said Summerwill, “It is a matter of primary concern and constant discussion. So we are funding work on implementation and testing, to [de-risk] that hypothesis.”

Constant journey bills? Guilty, stated Summerwill. This 12 months, he had been to a number of Ethereum occasions, together with ETHDenver and ETHCC. “We are tiny and one-on-one contacts are very important. Grassroots is the strategy. There is nothing unusual in that at all.”

And as for the nepotism cost, Summerwill stated, “I declared our relationship at the time of her appointment. The board were all aware.” Moreover, he stated, “Alison is not just ‘an accountant.’ She is a CPA and financial controller, with many years of relevant professional experience.”

Summerwill additional pointed to a battle of pursuits assertion he has maintained since 2017, which particulars his funds, skilled relationships, and compensated roles. It was final up to date on February 29.

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