IOTA co-founder Sergey Ivancheglo announced that he has sold all of his IOTA because there are too many "conflicts of interest" in holding these tokens. It is not clear how many IOTAs he holds. It is reported that Ivancheglo has been a core member of the IOTA ecosystem and even a member of the IOTA Foundation Board of Directors a year ago. However, his time on the board of directors was very short. He officially announced his resignation as a board member in June this year. He has been working as an independent developer for IOTA since then.