Andre Cronje resigns from Sonic board

Sonic (S) co-founder Andre Cronje and other co-founders have resigned from the Sonic Labs board, BeInCrypto reported. Matt Visser has been appointed as the new CEO. The resigning founders will retain their equity but will step away entirely from future management and business decision-making. The S token has fallen 9.5% over the past 24 hours and 91.3% over the last year.