Sonic Labs clarifies: AC does not unilaterally control development funds, and the foundation has not misappropriated funds

Compared to Twitter, Sonic Labs issued a statement on recent public comments about Andre Cronje and the Sonic network. In 2018, a Korean team launched an ICO for Fantom (now renamed Sonic). Due to poor management, a large amount of money was exhausted due to poor management, and Andre Cronje joined and relaunched Fantom in June 2018. When Andre Cronje joined, there were less than $5 million in African FTM assets in the treasury, which grew to nine digits between 2020 and 2021.

Sonic Labs added that Andre did not design the original Fantom token economy model, which was created by the original Korean team in 2018 and later modified through on-chain governance. Andre also does not unilaterally hold or control the Sonic Development Fund. Andre never gave up on Fantom/Sonic, designed the original technology, expanded funding, and continued to work as a technical advisor, regularly mentoring the technical team. There has been no misappropriation of funds.