EOS Foundation CEO: ‘Block.one were negligent’

EOS Foundation CEO Yves La Rose has branded his own company a ‘failure’ in a fiery speech.

Rose, the ‘community-elected CEO’ of the EOS Foundation, gave a speech at a virtual event where he admitted EOS had been a disappointment.

“The last three years or so have been nothing but dwindling in terms of market cap and in terms of token value,” he said.

“When we look at EOS compared to the rest of other cryptos, especially in Satoshi levels, EOS has been a terrible investment.”

Rose criticised the actions of EOS’ backer and former developer Block.one for its ‘lack of planning and unwillingness to contribute’ to the project.

A separation between the EOS Foundation and Block.one was required, said Rose, who believes ‘this break is needed for a narrative and a branding shift to occur’.

A $24m fine Block.one were forced to pay over an unregistered ICO was one controversy that clouded the legitimacy of the project as well as raising $4bn for its ICO without having a product to offer.

Criticism of their former developer wasn’t the bedrock of Rose’s speech as he talked about what the EOS Foundation had been working on since its launch. He mentioned plans for the future that would ensure ‘EOS regains leadership within the greater blockchain ecosystem’.

Rose believes the foundation is ready to take the next step in its rebuild as a leading blockchain in the cryptocurrency industry.

“The EOS Network Foundation is now in the position to form strong partnerships with key opinion leaders and media partners such as yourselves to amplify the work that is being done daily by developers, businesses, and individuals within our ecosystem to help reposition and rebrand EOS as a blockchain environment of choice for investors,” Rose explained.