---
title: "97% Down — Andre Cronje Exits Sonic Labs Board as S Token Continues to Sink Lower"
url: https://thecoingazette.com/97-down-andre-cronje-exits-sonic-labs-board-as-s-token-continues-to-sink-lower/
date: 2026-06-21
modified: 2026-06-21
author: "Coin Gazette Editorial"
description: "Andre Cronje, Michael Kong, and David Richardson resigned from the Sonic Labs board this week, handing control of the struggling layer-one (L1) project to a new executive team. The three..."
categories:
  - "Crypto News"
  - "Cryptocurrency"
tags:
  - "Andre Cronje"
  - "Crypto News"
  - "cryptocurrency"
  - "Markets and Prices"
  - "sonic labs"
image: https://thecoingazette.com/wp-content/uploads/2026/06/97-down-andre-cronje-exits-sonic-labs-board-as-s-token-continues-to-sink-lower.png
word_count: 56
---

# 97% Down — Andre Cronje Exits Sonic Labs Board as S Token Continues to Sink Lower

![Sonic chart all-time stats, 97% down.](https://static.news.bitcoin.com/wp-content/uploads/2026/06/97-down--andre-cronje-exits-sonic-labs-board-as-s-token-continues-to-sink-lower-768x432.png)Andre Cronje, Michael Kong, and David Richardson resigned from the Sonic Labs board this week, handing control of the struggling layer-one (L1) project to a new executive team. The three founding board members built Sonic Labs, formerly the Fantom Foundation, from the ground up. Cronje served as chief technology officer and is known across DeFi […]