Sonic Labs announced a major staff reshuffle: former CEO Michael Kong left the board, executive chairman David Richardson and co-founder André Cronier stepped down. Amid this news, the S network’s native core has plummeted by more than 6% and its current price is $0.028, 97.2% below the historic high point recorded in January 2025.

The CEO and COO positions were filled by Matt Visser and Costa Curcumelis. The new leadership explicitly acknowledged the deteriorating mood in the community, and stated that the priority would not be a new roadmap, but rather to bring order to operations and increase transparency. Visser noted that he would not promise an immediate turnaround, but would focus on daily improvements and the creation of a risk and compliance committee.

Despite organizational shocks, the technical development of the project continues without interruption. Since the beginning of 2026, the team has combined about 400 significant pull requests, released two network updates and continues to test version 2.2.0 in a closed test, emphasizing that technology remains the main asset of the ecosystem.