Mihailo Bjelic, Co-Founder of Polygon, Leaves the Project

Doohyun Hwang

Summary

Mihailo Bjelic, co-founder of Polygon, announced his departure from Polygon and his resignation from Polygon Labs and the Foundation Board.
His resignation means that 3 out of the 4 co-founders of Polygon have stepped down from their official roles.
Polygon reported a 4.7% drop in the Binance Tether (USDT) market, trading at around $0.23 following the announcement.

Mihailo Bjelic, co-founder of Polygon (POL), is leaving the project.

On the 23rd (local time), Bjelic announced on his X account, "As the project grows and matures, visions can naturally change or sometimes diverge. Currently, I find it difficult to contribute to Polygon with my utmost effort," and declared his departure from Polygon.

With this decision, Bjelic will resign from all positions at Polygon's major development studio, Polygon Labs, and the Polygon Foundation Board. He co-founded Polygon in 2017 with Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun under the name 'Matic Network.'

With this resignation, 3 out of the 4 co-founders of Polygon have officially stepped down from the project. Previously, Arjun and Kanani had relinquished their official roles at Polygon in 2022 and 2023, respectively.

Meanwhile, Polygon is trading at around $0.23 on the Binance Tether (USDT) market, down approximately 4.7% from the previous day.

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