In the latest IOTA news, the IOTA Foundation has just received some bad press as a heated discussion between the founders of the project and their board of directors was leaked to the press.

IOTA News: Leaked Chat-Log Transcript

Sergey Ivancheglo, co-founder of IOTA, started out the chat-log by stating that he doesn’t have any confidence in his partner Dominik Schiener. You can see how it all unfolds in the leaked chat above.

“I inform everyone that I [no] longer trust Dominik Schiener and I think he should quit the IOTA Foundation for the better future of IOTA,” Ivancheglo said to start off the chat.

It remains unclear why the co-founder expressed his concern for his partner, and it does not say further in the chat-log transcript. However, the rest of the log goes into long detail about how Ivancheglo plans on removing Schiener from the project.

Shiener responded and said that he would not be going down without a fight.

“Good luck,” Sheiner commented in the leaked chats. “IOTA AS will have some serious legal issues with the advisor tokens and the impending tax audit. I am done with this. I am done with being threatened. [T]his is the course of action that both of you want to take, then I’m all for it. [I]f you want to be enemies, lets [sic] fight.”

IOTA Foundation Formally Responds

It seems that this conversation among the heads of IOTA was never supposed to make it to the public, but the IOTA Foundation has decided to formally address the transcribed heated conversation log.

Clarification from the IOTA Foundation Board of Directors and Foundershttps://t.co/AQlQrZiXrH
— IOTA (@iotatoken) August 8, 2018

The update on the matter was released today and clarifies the Foundation’s stance and gives a bit of background on the matter.

The updated announcement starts off by saying:

“The IOTA Foundation is a young institution. Our team has grown from a handful of members to almost one hundred in less than a year. We are a very well-funded startup at the intersection of one of the most innovative areas of technology and a sometimes toxic market. As we are just learning to walk, while fostering prominent corporate and social partnerships, our exposure to the global spotlight has forced us to quickly learn to communicate like a publicly listed company.”

It remains unknown where the leaked document came from at this time, but it seems that the Foundation has figured out the solution. The statement suggests that Ivancheglo’s outburst was nothing more than an emotional response and the Foundation’s final decision on the matter will be made by August 10th.

What did you think about this tidbit of IOTA news? Let us know in the comments below.