Bitcoin Foundation Dismisses Two Board Members Due to Difference in Vision
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....
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In a vote consisting of five ayes and one abstention, the Bitcoin Foundation Board has elected lifetime member Bruce Fenton to the position of Executive Director, replacing interim director Patrick Murck who held the position for the five months following Jon Matonis's resignation. In an announcement posted on Monday afternoon, the Foundation stated that it decided that "in opinion of the board, [Fenton] is the best candidate for the job." In February of 2015, Fenton lost his bid to win one of the two open Board seats during the general election, finishing in fourth position behind Olivier....
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....
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....
A number of Bitcoin Foundation members, unhappy with the current direction of the Foundation, have started to resign. That's according to this forum forum post on the Bitcoin Foundation board, in which annual member Patrick Alexander starts the thread with a resignation announcement: "Unfortunately I must resign as an individual member of the Bitcoin Foundation," Alexander writes in his post. He points to Charlie Shrem (former BitInstant CEO and accused money launderer), Mark Karpeles (former Mt. Gox CEO), and Brock Pierce (newly-elected board member who has dealt with legal issues of his....
The Bitcoin Foundation was founded in September 2012 with the stated mission to promote, protect and standardize the use of Bitcoin for the benefit of users around the globe. The organization was modeled on the Linux Foundation and is mainly funded by its members and by for-profit companies that depend on Bitcoin technology. A few days ago, one of the newly elected board members of the organization declared the group "effectively bankrupt", claiming that the board members were hiding the Bitcoin Foundation's financial difficulties to its members. Olivier Janssens stated: "The Bitcoin....