Yuga Labs CEO Michael Figge announced on X on May 29 that it will make adjustments to ApeCoin’s structure: abolish the standalone role of ApeCo owner, with Cam stepping down from that role; the core ApeChain technology and business development (BD) teams will work directly with Yuga Labs. The transition is expected to be completed by June 5, 2026.
Figge’s key quotes
In his X post, Figge wrote: “Yuga Labs and ApeCo coordinate their work, but run in parallel. To keep the organization and leadership aligned, we paid a coordination tax.
When a lack of regulatory clarity forces crypto into strange shapes just to launch a product, that makes sense. That era is over, and we need to reset from first principles. Simply put, reduce the coordination tax.”
He also said that Cam fully supports this reorganization and that ApeCoin should not feel like an “independent bet” moving forward separately from Yuga’s other brands.
Background on ApeCo’s establishment
ApeCo (formerly Ape Foundation) was a new governance framework previously proposed by Yuga Labs, intended to replace the ApeCoin DAO. The ApeCoin DAO was established in 2022, and since then has faced governance efficiency issues.
The Block previously reported that Yuga Labs’ former CEO Greg Solano, in a proposal, described how the DAO had “become slow, noisy, and often not serious governance theater,” and proposed that ApeCo focus on three core pillars: ApeChain, Bored Ape Yacht Club (BAYC), and Otherside.
Yuga Labs has also recently sold NFT IPs such as Moonbirds, CryptoPunks, and Meebits, showing the company is concentrating resources on its core products.
Confirmed next steps: June Asia tour
In the post, Figge announced plans to hold a tour in June 2026 in Hong Kong, Shanghai, Taipei, and Seoul, meeting directly with key and potential partners, exchanges, investors, institutions, and community members, with the goal of “building relationships that drive BAYC, Otherside, and ApeCoin to move forward together.”
FAQ
After Cam leaves, how will ApeChain’s technical work continue?
According to Figge’s announcement, Cam’s departure only concerns the standalone role of ApeCo owner; the core ApeChain technology and BD teams will work directly with Yuga Labs. Figge said, “The chain and its partners will be well served.”
What exactly is the “coordination tax” of this reorganization?
In the post, Figge defined the “coordination tax” as the extra costs required when Yuga Labs and ApeCo run in parallel, including additional handoff procedures between the two organizations and increased decision review checkpoints. With changes in the regulatory environment, the need for this parallel structure is no longer there.
After the transition is complete, will ApeCo be fully dissolved?
According to the announcement, Figge is canceling the “standalone ApeCo owner role.” The core ApeChain technology and BD teams will be integrated into Yuga Labs, and some other members will leave. The announcement does not explicitly state what the future arrangements for the ApeCo entity itself will be.
