Blockchain two-tier development platform Loom Network officially announced that the project co-founder and CEO Matthew Campbell has left, and the project's blockchain engineering leader Vadim Macagon took over as CEO. Loom Network also announced the suspension of the bounty program for the project because the program failed to achieve the expected results. It is reported that Matthew Campbell has left Loom Network in December 2019, has established his personal investment agency Remote Ventures and served as the CEO of Remote Ventures. Loom Network officially announced the news only after 2 months of his departure. According to previous reports, Loom verification nodes including NGC StakeX have stated that they will no longer serve as Loom nodes after the one-year pledge has expired.