Qredo Begins New Chapter with 10T and 1RT Acquisition

10T Holdings and 1RoundTable Partners, under the leadership of Dan Tapiero, have secured substantial assets of Qredo, the crypto custodian facing challenges. This acquisition heralds a fresh start, with the rest of Qredo’s operations entering administration, marking a pivotal shift for the company. 

The new chapter unfolds under Fusion Laboratories, focusing on the development of Fusionchain on the Cosmos network, promising innovation and growth.

Exciting news for the QRDO ecosystem! Following a PR announcement by Qredo today:”Fusion Lab’s team will focus solely on a new platform seeded at Qredo, called Fusionchain, and next- generation multi-party computation (“MPC”) node technology. The launch of Fusionchain will be…

— QRDO (@QredoNetwork) February 2, 2024

Relaunch and Operational Continuity

Fusion Labs, born from this acquisition, is set to breathe new life into Qredo’s core assets. Importantly, the Qredo custody platform will maintain full operational status, ensuring uninterrupted service for customers during this transition. 

This development is crucial, as it ensures stability amidst change, with 44 employees being laid off but 23 transitioning to Fusion Labs, indicating a blend of continuity and new beginnings.

Randy Little, now at the helm as CEO of Fusion Labs, along with a restructured board, signifies renewed leadership and strategic direction. This move addresses immediate challenges and sets a promising course for Qredo’s technology and stakeholders.

Community and Ecosystem Outlook

The Qredo community stands in an exciting growth phase, buoyed by Fusionchain’s strategic plans and enhanced tokenomics. This transition resolves pressing issues and opens avenues for innovation within the Qredo ecosystem.

The QRDO Foundation, integral to the QRDO ecosystem, welcomes this acquisition, viewing it as a positive resolution to previous concerns. The continued support for the QRDO token through initiatives like Warden Protocol and Fusionchain underscores a bright future for the community, characterized by growth and innovation.

This acquisition by 10T and 1RT through Fusion Laboratories marks a turning point for Qredo. With a focus on Fusionchain and a commitment to operational continuity, the path is set for revitalizing the Qredo ecosystem. The leadership transitions and the community’s optimistic outlook further reinforce the potential for a new era of prosperity and innovation.

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2024-02-03 22:44