Ahmad Shadid, CEO of Solana-based decentralised infrastructure provider Io.Net, has stepped down from his role just two days before the launch of the company’s native token on Binance Launchpad.

Co-founder and former COO Tory Green will replace Shadid as CEO. Shadid cited undisclosed allegations about his past as the reason for his departure, aiming to minimise distractions and support the company's growth.

Shadid announced he would contribute one million of his tokens to Io.Net’s Internet of GPUs Foundation to support the ecosystem.

Despite criticism and accusations related to the authenticity of Io.Net's GPU offerings and Shadid’s previous involvement in other crypto projects, the company remains committed to its vision of becoming the world’s largest AI compute network.

Green confirmed the token launch is scheduled for June 11, continuing to build on Shadid’s original vision.