No, that's FUD, and probably intentional misrepresentation, or perhaps a mistake in translation.
The goal is to eliminate the role of the CEO for Tendermint Inc, so it isn’t correct to say that Jae is “stepping down”. Rather, the role is being eliminated to decentralize Tendermint Inc. and implement checks and balances from within.
Tendermint Inc. organizational structure today comprises a sole decision factor, which is Jae Kwon, in his role of company's CEO. Jae and company has decided that moving forward the company will adopt a more decentralized corporate “Process” that is being developed along with the Virgo project.
Jae will continue to serve as a member of the ICF foundation council.
They are complementary. Virgo uses the Cosmos stack, and will bring more users to Cosmos.
Cosmos’s mission is to create decentralized technology to power the new token economy. Virgo’s mission is to decentralize our financial, social, and org-tech systems from open software to open hardware. Cosmos fulfills a significant portion of Virgo’s mission, and Virgo in turn can help Cosmos stay true to its mission to provide the world with the best viable alternative open financial infrastructure, while bringing new users to the Cosmos ecosystem. Virgo is part of an experimental project bootstrapped by the ICF, headed by Jae Kwon, and executed with the support of AIB.
Sound more pro