George Popescu Steps Down From Lampix
George Popescu is stepping down from Lampix, the augmented reality lamp company he founded, according to an announcement. Lampix raised $14.2 million through its sale of PIX tokens in a 2017 Initial Coin Offering (ICO). PIX sold at a price of 12 cents each but the value has since plummeted by more than 95%.
Popescu will be replaced by Salvatore Buccellato, who has been the Chief Revenue Officer since the summer of 2018.
“As outgoing CEO I am really proud to have taken Lampix from an idea/prototype to the successful manufacturing of the Lampix commercial development kits,” Popescu said in a published statement. “I strongly believe that it is good practice for companies to regularly have new CEOs who bring new ideas, new resources and a fresh outside vision to the company. During and after the full transition I will of course remain involved with the company as needed.”
Lampix was profiled in deBanked’s November/December magazine issue as a poster child for the murky world of crypto fundraising. At the time, Popescu was involved in several other ICOs in addition to Lampix. Among them was AirFox, which later settled charges with the SEC, and DropDeck Technologies, whose investor funds were lost due to a technological glitch. Popescu was also advisory board chairman to Gatecoin, a Hong Kong-based crypto exchange which was shuttered pursuant to a court order on March 20, 2019.Last modified: May 13, 2019