Jon Matonis Steps Down From His Position at Bitcoin Foundation

Executive director at Bitcoin Foundation, Jon Matonis, resigned from his position and will step down from his board seat in December.

Photo: Jon Matonis/ The Bitcoin Foundation

Photo: Jon Matonis/ The Bitcoin Foundation

Bitcoin Foundation executive director Jon Matonis stepped down from his position at the company on October 31.

Matonis will remain on the foundation’s founding board members till December 31. His board seat will be open until the elections in January, 2015.

The Foundation’s General Counsel, Mr. Patrick Murck, will step into the executive director position, while his General Counsel seat at the Foundation will become vacant.

Patrick Murck said: “Two years is a lifetime in Bitcoin and we’ve come a long way from where we began. And yet, there is still so much ahead of us. I thank Jon for his service and am honored to receive this appointment. I commit to continue paving the way for our community of investors, entrepreneurs, and technologists to maximize Bitcoin’s potential for all people.”

Matonis was appointed as an executive director in July 2013.

He commented: “Leading the Bitcoin Foundation has been a once-in-a-lifetime opportunity. Merging the diverse interests of the bitcoin community has been intellectually and professionally stimulating and now its time to pass the baton.”

Matonis plans to continue working in the bitcoin industry through the private sector. Previously, he held positions at Lydia Group, an investment management and electronic payments consulting company, Hush Communications startup, authentication services provider Verisign and credit card firm Visa.

Earlier this year, two members of the board of directors at the Bitcoin Foundation were accused of criminal activities. In January, Charlie Shrem was accused of illegal drugs trading on the online Silk Road marketplace. Shrem is currently awaiting sentencing.

Meantime, CEO of Mt Gox, Mark Karpeles, resigned from the board in February after the exchange collapse. In May, a number of other Bitcoin members cancelled their memberships.

While serving as an executive board at Bitcoin Foundation, Matonis contributed significantly to the company’s expansion globally. In December, the Bitcoin Foundation launched its first international chapters and is going to add 10 international groups, including chapters in France, Mexico and Australia.

Matonis is a prominent figure in the bitcoin community. He is the owner of the Bitcoin Foundation blog and has also participated in a number of conferences. Matonis graduated from George Washington University and also studied at the University of Maryland.

Peter Vessenes, Chairman of the Board of Directors for the Bitcoin Foundation, said:

“Jon stepped up to the plate and proactively extended Bitcoin awareness beyond the Bitcoin community, engaging industry professionals in banking, finance, economics and regulatory affairs at a time when the world looked to the Foundation for an organized voice.”

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