Two Board Members Exit as Bitcoin Foundation Seeks Funding
Bitcoin Foundation board members Jim Harper and Olivier Janssens have resigned and been removed from the trade organization, respectively, following a disagreement over the future of the advocacy group. At an 11am EST meeting today, long-standing disagreements among Bitcoin Foundation board members came to a head over a vote on whether the organization should be disbanded. Both Harper and Janssens voted to shut down the foundation. In a statement, Bitcoin Foundation vice chairman and BTCC CEO Bobby Lee said the organization accepted the resignation of Jim Harper following the vote, a....
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The Bitcoin Foundation, the oldest and largest organization in the Bitcoin industry, has focused on engaging in Bitcoin advocacy, spurring its awareness, increasing adoption, and encouraging the development of Bitcoin and blockchain technology globally. Yesterday, however, board members of the Bitcoin Foundation including Board Chairman Brock Pierce, Meyer Malka, BTCChina CEO Bobby Lee, and Elizabeth Ploshay have announced a major changeover. On December 15, 2015, all board members of the Bitcoin Foundation initiated a meeting to discuss the future and funding of the organization. Led by....
The Bitcoin Foundation board of directors has issued a new statement on the controversy surrounding its current financial situation and proposed restructuring. Overall, the blog post seeks to clarify perceived misstatements issued over the weekend in a post that generated widespread discussion in the community. The full release takes aim at accusations that the organisation is "bankrupt" and has fired "90% of its staff". Though attributed to the Bitcoin Foundation board of directors, the statement does not seem to represent the board in its entirety. Both board members representing the....
A number of Bitcoin Foundation members have canceled their memberships, citing frustration with the latest round of appointments and the 'general direction' of the organisation. The cancellations emerged after annual member Patrick Alexander opened a thread on the Bitcoin Foundation forums stating he would terminate his membership immediately. At press time nine others had followed suit - the foundation has about 150 lifetime members, alongside annual members and 384 anonymous members. A number of reasons were outlined by those leaving the organization, from recent the board election to....
Brock Pierce is now the Bitcoin Foundation President. The Bitcoin entrepreneur and venture capitalist has been elected as Chairman of the Board of the Bitcoin Foundation. Elected by a 3-0-1 vote, Pierce will now be succeeding Peter Veseness, the former Chairman. The Bitcoin Foundation is a non-profit organization and the role of Chairman along with the other Board members is an unpaid position. Broke Pierce thankfully accepted the position and immediately gave an insight of what were his intentions for the Bitcoin Foundation. "I wish to thank the industry members that elected me to the....
Facing declining finances, criminal investigations of ex-board members and the ramifications of some poor management decisions, the Bitcoin Foundation has made some changes to its board and is considering a shift in mission to sustain its existence, according to Bloomberg. During the advocacy group’s Dec. 15, 2015 board meeting, Executive Director Bruce Fenton said additional funding is needed to retain employees. At least $7 million disappeared in two years. Total assets were $12,553.06 as of Nov. 30. Fenton said the foundation, which sponsors conferences, lobbies, and offers technical....