Sonic Labs extends Fantom Opera operation until the end of the year and announces new leadership structure

According to Odaily, Sonic Labs announced several governance and operational adjustments on X. The Fantom Opera network, originally scheduled to shut down at the end of this month, will now continue operations at least until the end of 2026, and the corresponding cross-chain bridge will also continue to receive funding during this period. Sonic Labs stated that this decision was made in response to community feedback.

At the same time, the team announced the cancellation of the generic “Contributors” label and revealed a new leadership structure. Matt Visser will serve as Chief Executive Officer (CEO); he has a background in product management and financial restructuring, co-founded Squire.Law, and led Web3 product strategy. Kosta Kourkoumelis will serve as Chief Operating Officer (COO); he brings over 20 years of experience in financial services and the digital asset industry and has been involved in the ecosystem since the Fantom ICO phase.

Previously, Andre Cronje announced his departure from the Sonic Labs board and stated he will focus on technological research and development going forward.