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The embattled head of Switzerland's Tezos foundation is stepping down, paving the way for the digital token to be launched.

Johann Gevers has been in the crosshairs of an angry community of developers, investors and other supporters of Tezos for months now, as finews.com has reported.

On Thursday, the South African native said he would step down as head of the Swiss foundation which raised $232 million in a record-breaking initial coin offering last year, according to a statement from the foundation.

The move breaks a deadlock between him and Tezos developers Arthur and Kathleen Breitman over money. It also paves the way for Tezos to launch its token, which reportedly it is weeks from being able to do technologically, with the help – and crucially, the funds – of the foundation.

«Tezzie» Launch

Gevers will be replaced by Ryan Jesperson, a U.S. cryptocurrency expert who earlier this month spearheaded the launch of a rival foundation, T2. The move was a bid by Tezos supporters to help launch the «Tezzie» if needed, in place of the first foundation.

«With the appointment of the two new members to the board, the foundation is preparing itself to assist in the timely launch of the Tezos network,» the foundation said in a statement, without disclosing when the appointments become effective, or when the coin might launch.