- Mihailo Bjelic, a co-founder of Polygon, has stepped down from the network.
- Bjelic announced his departure from the board of the Polygon Foundation and daily operations at Polygon Labs.
- His exit leaves Sandeep Nailwal as the only remaining co-founder actively involved with the project.
- Polygon, formerly known as Matic, was originally founded by Bjelic, Nailwal, Jaynti Kanani, and Anurag Arjun.
- Following the announcement, Polygon’s native token POL dropped 5% within 24 hours, trading above $0.23.
Mihailo Bjelic, one of the original four co-founders of Polygon, announced his resignation from the board of the Polygon Foundation and his withdrawal from daily work at Polygon Labs. The announcement was made on Bjelic’s official X (formerly Twitter) account.
Bjelic stated, “After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation, and wind down my day-to-day involvement with Polygon Labs.” With his departure, Sandeep Nailwal remains the only active member of the founding team.
Nailwal publicly acknowledged Bjelic’s work, expressing appreciation and wishing him well. The original group that launched Polygon—at first known as Matic—also included Jaynti Kanani and Anurag Arjun.
Polygon is a layer 2 network, which means it operates on top of an existing blockchain (such as Ethereum) to improve speed and reduce costs for transactions. The announcement came as Polygon’s token, POL, saw a 5% decrease in price over 24 hours, trading above $0.23 at the time of reporting.
Further details on the impact of Bjelic’s departure, or future changes in the team’s structure, have not been shared.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Three More Arrested in Varanasi’s ₹16.5 Crore Crypto Scam
- Polygon Co-Founder Mihailo Bjelic Steps Down, Remains in Crypto
- UK Small Businesses Turn to Crypto Amid Rising Costs and Challenges
- Bitcoin Bulls Eye $110K as $4.8B Options Expiry Looms May 30
- Midnight CEO: ZK-Proofs Key for Privacy Against AI-Era Hacks
