The controversial figure in the crypto industry, founder of Digitbyte Jared Tate, announced that he is stepping aside from day-to-day operations due to greed and rampant pillaging of the crypto industry. Digibyte founder announced his departure from the front-end of the crypto space on May 15 after eight years in the crypto industry. Jared Tate said that he learned so many things during this time and one of which is that greed is the fundamental driving force in crypto & people’s actions in life.
“The original values of the crypto industry have disappeared.”
Jared Tate, who has previously made some controversial claims against big crypto companies including Binance and Tron, said he doesn’t speak for everyone involved with DigiByte when he proclaims that the original values of the crypto industry have disappeared. He further noted that all 90% of the people in the space care about is cashing out when one of their coins “moon.” In a series of tweets, he mentioned that he sees this tech being used daily to enrich the few at the expense of the long term good of the many.
1/3 I started this #blockchain journey 8 years ago with a belief & hope of a brighter future for all of us in a dark time. Along the way I have learned some very humbling lessons. #1 of which is greed is the fundamental driving force in crypto & people’s actions in life.
— Jared Tate ©️ (@jaredctate) May 15, 2020
“Making a quick buck is not why blockchain matters.”
Decentralized cryptocurrency Digibyte is currently ranked 34th by market cap following a recent 300% surge in April, which eventually peaked at 930% growth over seven weeks. The project was launched in 2014 without an initial coin offering and is developed voluntarily without any overseeing authority, not even Tate. Jared Tate said that making a quick buck is not why blockchain matters. In his goodbye thread, Tate continued saying that he cannot count the number of people he had over the last half-decade stab him in the back in an attempt to use DigiByte for a quick buck,” he said, adding, “Even close friends & confidants. It gets old.” However, Jared Tate confirmed that he wouldn’t be leaving DigiByte forever and that he would now be focusing on building commercial applications using the blockchain.