Chia Network Announces Leadership Transition to Support Scaling Growth

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Chia Network, Inc. (“Chia” or the “Company”), founded by Bram Cohen to provide an open-source, public blockchain optimized for real-world adoption, today announced the transition of Bram Cohen from CEO to Chairman of the Board, Founder, and Chief Technology Officer, and Gene Hoffman assuming the role of President and Chief Executive Officer.

Through this transition, the Company seeks to scale organizational infrastructure to meet the growing demand for access to the Chia blockchain and Chia Network technology, and serve as organizational restructuring necessary to maintain momentum toward the Company’s stated goal to go public. Under Cohen’s leadership, Chia Network created the secure and eminently auditable Chialisp development language and launched the Chia blockchain Mainnet in March 2021, which grew to be one of the most decentralized public blockchains globally. Cohen also built the Chia Network organization to steward and support the Chia blockchain through bespoke technology development.

“My career has always centered on innovation. I built Chia because I knew blockchain could be better, and we’ll continue to innovate,” said Bram Cohen, Chairman, Founder, and Chief Technology Officer. “Gene shares my vision for a future with more secure and sustainable financial technology. He deeply understands the industry as a cypherpunk himself and has had considerable success building the business and deploying our technology commercially. I’m thrilled for him to move into the CEO role, and I’m fortunate to have a team and organization as focused on innovation as I am.”

Focused on bringing security and regulatory compliance to blockchain infrastructure technology, Chia Network demonstrates the real-world utility of blockchain. Chia is building the tokenization engine for the Carbon Opportunities Fund and leverages the Chia DataLayer and Chia blockchain to harmonize global carbon registry data through the Climate Action Data Trust.

“I joined Chia because I believe in Bram’s vision and the work we’re doing,” said Gene Hoffman, President, CEO, and Director of Chia Network. “Blockchain must be better, and I believe we’re the organization to lead the evolution of the industry and technology; we have to move on from the charlatans hocking Ponzi schemes and unregistered securities. Chia is deploying infrastructure technology with real-world use cases across enterprise, government, and multilaterals – and we will continue to innovate.”

The transition went into effect as of January 1, 2023. The company doesn’t anticipate any changes to operations or plans moving forward.

​​About Chia Network

Chia Network built a better blockchain to drive real-world use and application. Founded by Bram Cohen, inventor of BitTorrent, Chia provides a secure, sustainable and regulatory compliant blockchain setting the standard for the infrastructure of digital currency and inclusive access to global, decentralized finance. Through the innovative Proof of Space and Time consensus algorithm, Chia Network’s public, open source blockchain leverages hard drive space to create the first new Nakamoto Consensus since Bitcoin in 2009.

For more information, visit: https://chia.net/

Contacts

Chia Network Contacts:

FTI Consulting

Dan Margolis, Laura Ewart (UK) and Parveen Singh

E: [email protected]

Gretchen Lium

Head of Investor Relations

E: [email protected]