Private Letter Gone Public Leaks with Ethereum-based Project MakerDAO Experiencing Internal Issues


According to a recently released report by CoinDesk, the decentralized startup MakerDAO is currently being affected by internal infighting.

This can be seen in a letter that is dated April 1 and is signed by an attorney that represents five board members of MakerDAO Ecosystem Growth Foundation (MEGF).

MakerDAO Affected By Internal Issues

According to this letter, the five board members of the MEGF say that they were pressured to resign by the CEO Rune Christensen.

At the moment, the MakerDAO Foundation controls 30 percent of the MKR tokens in the market. These individuals are in charge of the development of the network. More specifically, they distribute the funds for new projects to enhance and improve the MakerDAO ecosystem.

The letter has been signed by attorney Andrew Pullinger of the Cayman Islands law firm Campbells. This letter explains that CEO Christensen demands the board members to resign or to be replaced as directors. At the moment, there is no information about who is on the MEGF board, the names have not been revealed. Nonetheless, the letter names five board members: David Curring, Denis Erfurt, Thomas Pulber, James Reidy and Kenny Rowe.

Mike Porcaro, the head of communications for the organization, commented during a conversation with CoinDesk:

“With an ever changing business landscape, it’s expected that the Maker Economic Growth Foundation may experience the occasional growing pain as we work to support the MakerDAO project. In accordance with our mutually agreed upon foundation documents and procedures, changes to board were recently made.”

According to the letter, the clients remain as members of the MEGF board and they will not be leaving it.

It is worth mentioning that they never say that they will be taking legal action to solve this issue. Pullinger wrote that they invite the CEO of the organization and executive team to discuss these issues.

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