Bitcoin Foundation Vote Yields No New Board Members

No candidate received sufficient votes to secure a position on the Foundation's Board of Directors yesterday.

AccessTimeIconMay 1, 2014 at 10:50 p.m. UTC
Updated Apr 10, 2024 at 2:54 a.m. UTC

A vote to fill two vacant seats on the Bitcoin Foundation's Board of Directors has ended with no candidate garnering enough votes to secure a position.

Candidates needed at least 52 votes to be elected to a seat, however, no-one passed this voting threshold, election results show.

However, despite no candidates being elected, clear favorites for the positions did emerge.

BTC China CEO Bobby Lee received 44 votes, while venture capital Brock Pierce and Gyft CEO Vinny Lingham finished second and third in the voting, capturing 34 and 21 votes respectively.

The foundation will now hold a run-off election featuring only these three candidates.

The Bitcoin Foundation had earlier reported that 75% of its industry members had voted in the initial round, and that 102 out of the possible 137 ballots had been submitted by eligible voters.

were nominated for position, including Huobi CEO and founder Leon Li and BitcoinBlackFriday organiser Jon Holmquist, among others. All candidates received at least one vote.

Election committee chair Brian Goss indicated that details on a planned second round of voting would be released next week.

For more on how the Bitcoin Foundation's bylaws enabled this result, read our full report.

Confusion visualization via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.