Yearn Finance (YFI) Plunges 13% on Reports of Andre Cronje Leaving Crypto

Andre Cronje, who is perhaps most well-known for his work with Yearn Finance and Fantom, along Anton Nell, senior solutions architect at Fantom Foundation, will likely be leaving cryptocurrency.

Anton Nell, senior solutions architect at Fantom Foundation, announced on Twitter that Andre Cronje would be leaving the crypto space.

Andre and myself have decided to end our chapter of contributing in the crypto/defi space. We are closing approximately 25 apps and services on April 3, 2022.

YearnFi is one of these services. It’s a front-end interface to Yearn Finance (YFI), that Cronje has been working on. However, this does not mean Yearn Finance will cease working in any way. Cronje, however, is the one who developed the protocol. It was an iconic move at the start of DeFi Summer 2020. However, it didn’t mean that Yearn Finance would cease to exist. YFI’s stock price plunged by 13% and fell to $17K, from nearly $20,000.

Source: TradingView

FTM is also down 13% over the last 24 hours. YFI’s Banteg also commented on the matter, saying:

You don’t realize that Andre hasn’t worked on YFI for more than a year. Even if he had, there are still 50 full-time employees and 140 part-time contributors.

Anton Nell’s thread suggests that Cronje will not be returning.

This decision is not like previous “building in defense” rage quits. It is not a reaction to the hatred received by releasing a project.

We are grateful to all those who have supported us in the past few years.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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