Aleph Zero Implodes as Founder Resigns and Team Launches New Chain

In one of the most dramatic shakeups in recent crypto history, Aleph Zero ($AZERO) has collapsed more than 56% in a single day. Its co-founder and de facto CEO, Adam Gągol, has resigned. The core team has split. And a new blockchain project—Common—is rising from the ashes.

From Top 100 to Freefall

Aleph Zero was once a rising star. A privacy-focused Layer 1 chain, it launched in 2021 with serious momentum and strong backing from research and real cryptographic infrastructure.

At its peak, AZERO ranked among the top 100 cryptocurrencies by market cap. That momentum is now gone. As of May 23, the token crashed from ~$0.10 to ~$0.05 within hours—wiping out over $200 million in value and pushing its rank below #1250.

FUD spread. Panic selling followed. Then the truth surfaced.

A Brutally Honest Exit

Adam Gągol, co-founder of Aleph Zero and key figure at the Aleph Zero Foundation (AZF), publicly resigned. But he didn’t leave quietly.

In a candid thread, he revealed deep-rooted dysfunction inside the Foundation. He wrote plainly:
“There’s no unified us anymore.”

His resignation letter pointed to a range of issues:

• Poor internal communication
• Unfulfilled promises
• Denial by leadership
• Token treasury concerns
• A Foundation that refused to acknowledge mistakes

The message was clear: the system broke from the inside.

Common: A Breakaway, Not a Rebrand

Rather than exiting the space, Adam and the original development team are launching a new chain: Common.

• Built using AZERO’s tech stack
• Focused on privacy infrastructure
• Committed to radical transparency
• No token sales—for now
• Fundraising planned through independent capital

The new project is not a continuation of Aleph Zero. It’s a hard reset. A fresh start with a clean slate.

Airdrop for AZERO Holders

To support the community, the Common team has taken a snapshot of all AZERO wallets as of May 23, 11:00 CEST.

• An airdrop will follow
• Treasury wallets controlled by AZF are excluded
• Only community-held wallets are eligible

This is not a fork in name only. It’s a statement: Common exists because Aleph Zero lost its way.

Who’s Behind Common?

The same development team from Cardinal Cryptography—the group that built Aleph Zero’s core technology. Now led by Adam Gągol, who has taken a majority stake in Cardinal.

They are moving fast. With their own capital and no reliance on token sales, they are building without financial bottlenecks.

What It Means For You [NFA]

If you held AZERO before May 23, you may qualify for the Common airdrop. But more broadly, this moment highlights the importance of transparency in Web3.

When foundations stay silent, the market responds—often harshly. Common aims to rebuild trust by embracing open communication from the start.

This isn’t just a project pivot. It’s a live experiment in rebuilding a blockchain from the ruins of another, with community trust as the core value.

Stay informed. Be cautious. And always check official channels before making any financial decisions.

Community Reaction

As expected, the community reacted very negatively and was super angry as many investors lost money. Many people pointed out the lack of growth over the past year or so and well, many gave a lot of opinion we can consider hindsight.