Polygon loses its last founder, Mihailo Bjelic – what now?

Polygon loses its last founder, Mihailo Bjelic – what now?

Mihailo Bjelic, co-founder of Polygon, announced his resignation from the board of the Polygon Foundation on May 23, 2025. This decision comes at a time when the crypto industry continues to undergo dynamic changes. In addition to withdrawing from the board, Bjelic is also reducing his involvement with Polygon Labs, which is expected to make him an outside supporter. In his announcement, he explained that his vision for Polygon's future does not align with the network's current trajectory.

The exact plans for his next steps are still unclear, but his decision clearly shows the change within the company's leadership structures. Sandeep Nailwal, the last remaining co-founder, acknowledged Bjelic's achievements, calling him a "driving force" behind many of the platform's advancements.

The development of Polygon

Polygon, originally known as Matic, was founded by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic and Anurag Arjun. Bjelic's resignation makes him the third co-founder to leave the company, after both Kanani and Arjun previously turned their backs on Polygon. Arjun launched the spin-off Avail after his exit.

In September 2024 there was also a significant renaming of the MATIC token to POL as part of an upgrade to Polygon 2.0. The POL token is currently ranked 43rd among the most valuable cryptocurrencies, but is down 4.9 percent and is trading at a price of $0.238.

Reactions to Bjelic's resignation

In the wake of Bjelic's resignation, Nailwal was positive about the co-founder's contributions and wished him all the best for the future. The crypto community is watching developments at Polygon with interest, especially since the departure of the co-founder could cause unrest. At the end of April, there was already a 5 percent drop in the POL token in 24 hours, which could potentially have further impact on confidence in the project.

Bjelic's departure marks another step in Polygon's realignment. With only one co-founder now at the helm, it will be exciting to see how the company positions itself in the coming months as new challenges and opportunities remain in the cryptocurrency market. Further details about Bjelic's resignation and ongoing developments could be announced in the next few days.

For further information, see the articles on BTC ECHO and CoinDesk can be viewed.