Jon Matonis resigns from Bitcoin Foundation, general counsel Patrick Murck takes over

Jon Matonis has announced his resignation from Bitcoin Foundation as its Executive Director, and plans on stepping down from its board of directors at the end of his term on December 31.

The time has come for me to resign as Executive Director of the Bitcoin Foundation. Thank you for all of your passionate support! More soon. — Jon Matonis (@jonmatonis) October 30, 2014

He had served in the position since July 2013. He indicated that he looks forward to "advancing Bitcoin and contributing to the community through the private sector" in the future.

During his tenure, Matonis led the Foundation's international expansion and spearheaded efforts to standardize Bitcoin technology. However, the Foundation did experience its fair share of controversy, such as during the appointment of controversial board members and the resignations of others.

Well-wishers have taken to social media forums to express their appreciation for Matonis' contributions. Charlie Shrem tweeted:

Shrem resigned from the Foundation this year, shortly after his arrest on charges related to Money Laundering and operating an unlicensed money transmitting business.

Replacing Matonis is the Foundation's former general counsel Patrick Murck. Matonis' board seat will be filled through elections during January 2015.