Amir Haleem Steps Down as CEO of Nova Labs as HNT Falls 99% From Peak - "The Defiant"

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Amir Haleem has stepped down as chief executive of Nova Labs, the company behind the Helium decentralized wireless network, handing the role to Mario Di Dio. Haleem moves to chairman. The transition, announced Thursday in a Helium Blog post written by Di Dio, comes as HNT — Helium's native token — trades roughly 99% below its 2021 peak.

HNT hit an all-time high of $54.88 on November 12, 2021, according to CoinGecko. The token now trades at $0.515, a decline of 99% from that peak and a drop of 28% over the past week alone. Market capitalization stands at $94 million.

The slide predates the leadership change. HNT crashed alongside the broader crypto market in 2022, and the token never recovered to prior levels even as Helium shifted its focus toward carrier offloading and institutional partnerships.