SUSHI Price Doubled After Creator Shifted Control To FTX CEO

SUSHI price doubled after the creator handed control over to the CEO of the crypto exchange FTX so let’s find out in our latest altcoin news today.

The Sushiswap creator handed control over to the CEO of FTX and now he plans to devolve power to the community. Chef Nomi, the creator is now an even more controversial figure within the community. Chef Nomi the anonymous creator of the DeFi protocol transferred his control to the CEO of the crypto exchange FTX, Sam Bankman-Fried. Nomi angered the crypto community by withdrawing $13 million from the Sushi liquidity pool on the decentralized exchange Uniswap. The community and the General Manager of SushiSwap turned on him and alleged that he pulled out an exit-scam which is something Nomi denied.

Please save me from a bad $SUSHI investment @SBF_Alameda. He is our new master chef.

— Arthur Hayes (@CryptoHayes) September 6, 2020

Finally prepared to confront the outrage and Nomi gave the admin keys to Bankman-Fried who two hours before he tweeted:

“Nomi sucks and hurt the community. If Nomi doesn’t step down, it’s over for Sushi.”

Bankman-Fried thanked Nomi for giving him the keys and the plans for sushiSwap. He said he will devolve power to the community once more by transferring control to the multi-sig address controlled by the leaders that were elected by the community as he tweeted:

. “After that — Sushi shall be back in the community’s hands.”

https://twitter.com/AndreCronjeTech/status/1302518449428729857?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1302520716370128901%7Ctwgr%5Eshare_3&ref_url=https%3A%2F%2Fdecrypt.co%2F41002%2Fsushi-price-doubles-after-creator-shifts-control-to-ftx-ceo

Nomi said in a tweet as well:

“I hope SushiSwap does well without me. Again I did not intend to do any harm. I’m sorry if my decision did not follow what you expected. But I want to stress again and I did not intend to scam anyone. No LPs are lost whatsoever. I kept all my promises.”

The Sushi price doubled after the latest announcement from $1.24 to highs of $3 according to CoinMarketCap but analysts believe that Chef Nomi had bad intentions and wonder whether he will return the $12 million that he withdrew from Uniswap. Andre Cronje, the founder of yEarn said:

“Are you leaving the project? If so, are you giving the dev funds back? All you did so far was hand over a token that was built off of UniswapProtocol. Weren’t the funds meant to further develop? Aren’t you that developer?”