The monero project is having some turbulence.

Their community wallet, which only the founder and second in command had access to, got drained of about $500k worth of xmr. It was to be used for R&D and paying bills.

Now the founder wants to resign officially (he hasn’t been active in the project’s operation for years) as well as disband the core team and break it up into several teams:

That will be easier said than done I think. It will take them a while to sort it out.

The xmr:btc ratio is dragged down because of this I think. I’m sure they’ll figure out how to move forward, but it’s tough to really be decentralized.

This could mark a low point/buying opportunity price wise.