- Mitchell Demeter has been named the new CEO of Sonic Labs.
- Sonic’s network currently processes up to 400,000 transactions per second with under one-second confirmation times.
- The company aims to strengthen institutional connections, especially in the U.S., for scaling its blockchain ecosystem.
- Demeter will build a leadership team focused on business development, partnerships, and global expansion.
- Former CEO Michael Kong will become Chief Information Officer and remain on the board.
Sonic Labs appointed Mitchell Demeter as Chief Executive Officer to lead the company’s global growth and increase adoption of its blockchain platform. The change aims to expand developer engagement, institutional partnerships, and market reach, particularly in the United States.
Since launching its network in December 2024, Sonic has delivered a proven mainnet capable of confirming up to 400,000 transactions per second with confirmation times under one second. Key accomplishments include listing on Coinbase, native issuance of the USDC stablecoin, and integration of ChainLink’s Cross-Chain Interoperability Protocol (CCIP).
Demeter’s focus will be on strengthening ties with U.S. and international institutions and expanding business development efforts through a leadership team with expertise in traditional finance and cryptocurrency. He stated, “Sonic’s technology is unmatched in speed and scalability, and our mission is to bring that performance directly into institutional finance and global markets… The world’s financial infrastructure is moving on-chain, and Sonic intends to be at the very center of that transition.”
Michael Kong, who guided the project from its earlier stage as Fantom to Sonic, will transition to the role of Chief Information Officer and stay on the Board of Directors. Kong commented, “Mitchell’s extensive network and trusted relationships across the blockchain ecosystem, traditional finance, and beyond will be critical in driving the partnerships and real-world applications that will take Sonic to the next level.”
Mitchell Demeter is a blockchain pioneer with significant experience, including launching the world’s first Bitcoin ATM in Vancouver and co-founding Cointrader Exchange, a key Canadian digital currency platform. Previously CEO of SonicStrategy, he will become Executive Chair there to focus on Sonic Labs while supporting SonicStrategy’s ongoing development.
Sonic aims to capitalize on forecasts that up to 10% of the global GDP—over $10 trillion—could be transacted via blockchain within the next decade. The company plans to use its technological speed and scalability combined with incentive models for developers and institutions to drive mass adoption.
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