In early June of 2014, all of the co-founders headed to The Spaceship in Zug. The EthSuisse for-profit legal entity had been incorporated in Zug on 28th February 2014 by Mihai Alisie and Herbert Sterchi. The original purpose of the trip was to have the in-person meeting required by law for the other seven co-founders to be added as officers of the for-profit legal entity.

Charles Hoskinson, Anthony Di Iorio, Amir Chetrit and Joe Lubin flew in from North America. Jeff Wilcke ("obscuren") flew in from Amsterdam, Gavin Wood ("Gav") from Berlin, and Vitalik, from his latest nomad location.

Tensions were at boiling point at that stage, so instead of a signing ceremony it turned into a “get all the venom out” bloodbath of a meeting on 3rd June 2014.

The leadership group (the 8 co-founders) was dissolved, with Vitalik asking Mihai, Jeff, Gavin, Joe and Anthony to return, with Charles and Amir being removed. They remained co-founders and, like all the other early contributors, they still received their ether allocations. Stephan and Taylor were appointed to take their places.

This story is told in detail in The Cryptopians, Out of Ether and Infinite Machine, and has been mentioned in many other articles and interviews.

Charles is still incredibly bitter about these events. He allegedly gave all of his ether allocation to his assistant, Jeremy Wood, in frustration. Jeremy left the Ethereum project himself only a few months later.

Charles and Jeremy later collaborated as co-founders of IOHK (later partially rebranded as IO Global) in April 2015, a company most famous for the development of the Cardano blockchain.

Amir did not seem to care about his removal. He retained his ether allocation and now did not even need to do any more work! He had been quite clear that his involvement was primarily motivated by money and he continued to spend lots of time on colored coins when while being an Ethereum co-founder.

References