Polygon Co-Founder Mihailo Bjelic Steps Down from Board

Mihailo Bjelic, co-founder of Polygon, announced his resignation from the Polygon Foundation board on May 23, 2025, citing evolving visions and reduced effectiveness as reasons.

Polygon’s leadership change holds significance, affecting investor confidence, as demonstrated by a 4% POL token drop.

Mihailo Bjelic’s decision to leave Polygon marks the exit of another key founder. Since joining in 2019, he has significantly contributed to Ethereum’s leading Layer 2 scaling solution. His departure follows other founder exits, impacting Polygon’s leadership. Bjelic’s announcement highlighted diverging visions as a significant factor, stating that projects evolve naturally over time. With Sandeep Nailwal as the only remaining co-founder, concerns rise about Polygon’s foundational stability.

Bjelic’s resignation led to a 4% drop in POL, reflecting investor unease, following shifts in the ecosystem. Polygon’s commitment to initiatives like the Agglayer Breakout Program continues, despite the leadership change. Experts emphasize Bjelic’s contributions while expressing optimism about the project’s adapting trajectory during this transitional phase.

Historically, crypto projects frequently undergo leadership changes, affecting their direction. Bjelic co-founded Matic Network, now Polygon, in 2017. Under his tenure, it became a major Ethereum scaling hub. Jaynti Kanani and Anurag Arjun’s prior exits left Sandeep Nailwal as a singular leader amid governance changes.

While direct statements from influential figures are scarce, the crypto community has noted Bjelic’s industry impact. Bjelic expressed intentions to stay active in crypto, affirming belief in its broader mission. Polygon’s ongoing pursuit of new developments throughout 2025 showcases resilience and adaptability despite founder departures.

“As projects evolve and mature, it is natural for visions to evolve, and sometimes diverge.” — Mihailo Bjelic, Co-Founder, Polygon