Dissent Lingers as Bitcoin Foundation Denounces Bankruptcy Threat

Bitcoin Foundation

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 individual members of the foundation, Olivier Janssens and Jim Harper, state that the release was prepared and distributed without their knowledge.

Perhaps most notably, the post alleges that a measure to split up the foundation into two entities, one focused on promotion, the other on core development, has been approved by the board of directors, stating:

”In the last board meeting, the management team presented an austere, yet clear, path forward for the board. The board of directors voted on March 31, 2015 to proceed with the strategic plan and to work out a communications plan to roll out the decision

Read more ... source: CoinDesk