Andre Cronje, the former chief technology officer of Sonic Labs, has resigned from the company’s board alongside Michael Kong and David Richardson, as the organization faces a severe decline in its native token and growing discontent from its community. The departures are part of a broader overhaul of the firm’s governance and executive structure, which includes the appointment of Matt Visser as the new chief executive officer and Kosta Kourkoumelis as chief operating officer. Cronje, who previously served as the technology lead for the Fantom ecosystem, clarified in a public statement that while he accepts responsibility for technical decisions, he was not involved in key choices such as the network migration process, airdrop design, tokenomics, or legacy network management. The Sonic token, which launched in January 2025 following the transition from Fantom to the Sonic layer-1 blockchain, has plunged roughly 97% from its initial value, now trading near $0.029. Technical analysis indicates the token has broken below a bearish flag pattern, with the relative strength index dropping to 34, signaling weak buying pressure, and the moving average convergence divergence remaining below zero. The leadership shakeup is part of a new governance strategy aimed at enhancing transparency and accountability, including the establishment of a risk and compliance committee. Despite these measures, market sentiment remains cautious, with key support at $0.028 and resistance near $0.032. The broader crypto industry has seen similar executive turnover, with the Ethereum Foundation also experiencing the departure of co-executive director Hsiao-Wei Wang amid reported layoffs.