Olivier Janssens: Bitcoin Foundation Has No Money Left

Recently elected Bitcoin Foundation board member Olivier Janssens has levied scathing allegations of mismanagement at the organization, charging in a blog post that it is "effectively bankrupt".

Since its founding it 2012, the organization has become increasingly marred by controversy. Last year, Janssens threatened to resign after the election of Brock Pierce, and Andreas Antonopoulos resigned over what he said was total lack of transparency. Janssens has echoed these allegations, and then some, charging:

- The Foundation has almost no money left, and just fired 90% of its people. Some will stay on as volunteers. - Core dev can no longer be funded by it, and Patrick Murck is trying to re-create a new Foundation just for core dev, because the current name is tarnished. Do not fall for this. - The current Executive Director (Patrick Murck), will be gone in 2 weeks, and they are trying to find the next person to blame everything on. - Jim Harper was threatened for doing a press release which was (barely) critical of the Foundation after he got elected. The Foundation tries to make sure we hide the truth by subtly threatening us on a regular basis. - If I get asked to leave the Foundation for telling the truth, so be it. The truth is being told.

He ends by announcing that a special fund is being created and he will "donate several 100k to pre-pay Gavin’s, Wladimirs [sic] and some other core devs wage for the next year (if they choose to accept)." He noted that he totally expects the other board members to blame him, "for whatever reason".