- Aug 19, 2015
- 511
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The Bitcoin Foundation marches on. The vote took place on December 22, 2015. In addition to its numerous organizational and legal problems, the nonprofit blew through $7 million in funds in two years, with only a few thousand remaining in the bank.
Olivier Janssens and Jim Harper voted to dissolve the organization (not surprising, considering their previous stance), but were outvoted by Bobby Lee and two other board members. Amusingly, the foundation's minutes say that the vote was unanimous, which is untrue, because Janssens and Harper got to vote before they were booted.
More details in this Bloomberg article, including a quote from Gavin: "I don't know if the foundation has a future. It is very difficult to regain trust once trust has been lost, and the illegal behavior of two of the foundation's former board members destroyed a lot of trust."
Olivier Janssens and Jim Harper voted to dissolve the organization (not surprising, considering their previous stance), but were outvoted by Bobby Lee and two other board members. Amusingly, the foundation's minutes say that the vote was unanimous, which is untrue, because Janssens and Harper got to vote before they were booted.
More details in this Bloomberg article, including a quote from Gavin: "I don't know if the foundation has a future. It is very difficult to regain trust once trust has been lost, and the illegal behavior of two of the foundation's former board members destroyed a lot of trust."
