Sonic Labs CEO and Chief Business Officer Resign

BlockBeats News, February 21st, Sonic Labs released the 2026 Ecosystem Update (Part 1), announcing the departure of CEO Mitchell Demeter and Business Lead Evan Owens, currently managed by the board of directors on an interim basis as they seek a new CEO. Sonic stated that the development fund has established a long-term operational reserve, with no risk investment unlocking pressure, and fund allocation covering assets such as the S token, stablecoins, and government bonds.

Strategically, Sonic Strategy holds approximately 127 million S tokens (multi-signature custody with no selling restrictions) and has ended cooperation with the CMCC Resonance Fund. On the product front, the AI smart contract generation platform Spawn is undergoing internal testing; FeeM has allocated over 2.6 million S tokens to developers to date, with future adjustments from a 90% rebate to a tiered structure; at the same time, discontinuing the Meme Season and Sonic & Sodas incentive plans, with a focus moving forward on long-term ecosystem development and tokenomic integration.