Polygon faces ‘Big L’ as co-founder Mihailo Bjelic steps down

Mihailo Bjelic, co-founder of Ethereum layer-2 scaling solution Polygon, has stepped down from his role at Polygon but suggests he will stay active in the crypto industry in some capacity.His resignation drew reactions across Polygon and the wider crypto community, with several seeing it as a significant loss for Polygon, which has been tied to several major developments in recent months.Bjelic winds down day-to-day involvementAfter much thought and reflection, Ive decided to step down from the board of the Polygon Foundation and wind down my day-to-day involvement with Polygon Labs, Bjelic said in a May 23 X post.Ill always be cheering from the sidelines and supporting however and whenever I can, Bjelic added.Fellow Polygon co-founder, Sandeep Nailwal, commended Bjelics contributions over the years, adding that Bjelic has always been a force behind so much of what makes Polygon what it is today.Source: Sandeep NailwalBjelic said that he remains as passionate as ever about crypto, and suggested he will stay active in the crypto industry.You will likely still see me around, Bjelic said.Aave-chan Initiative founder Marc Zella said it was a Big L for Polygon. Polygons head of marketing Leon Stern said the company is going to miss Bjelic. Thanks for everything youve done for Polygon, and best of luck, Stern said. Meanwhile, Skale Network CEO Jack OHolleran said Bjelic should be very proud of all he has accomplished at Polygon and is excited to see what he does next.Source: Maggie LoveOver the past two years, two of Polygon Labs early founders, Jaynti Kanani and Anurag Arjun, also stepped away from the company. Arjuns departure coincided with the Polygon spin-off Avail, a Web3 data availability and consensus layer, becoming an independent entity, with Arjun taking the lead.Bjelic has yet to reveal his next plans.Related: Crypto market cycle permanently shifted Polygon founderBjelics resignation follows several major announcements tied to Polygon this year.On March 25, Real-world asset (RWA) tokenization platform DigiShares announced it would bring tokenized real estate trading to Polygon with the launch of RealEstate.Exchange, also known as REX.Just two months before, on Jan. 16, Jio Platforms, an Indian mobile network operator owned by Asias richest person, Mukesh Ambani, partnered with Polygon Labs to upgrade some of its existing offerings with Web3 and blockchain capabilities.Magazine: AI cures blindness, good propaganda bots, OpenAI doomsday bunker: AI Eye