Bitcoin Foundation Names South African Investor as New Director

Bitcoin’s oldest trade organization has voted in a new, relatively unknown executive director.

AccessTimeIconJun 20, 2016 at 2:00 p.m. UTC
Updated Sep 11, 2021 at 12:20 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Bitcoin’s oldest trade organization has voted in a new executive director.

Weeks after outgoing executive director Bruce Fenton notified the board his term was nearing conclusion (rumors suggested he had resigned), the Bitcoin Foundation has named Llew Claasen to the position.

A relative unknown in the bitcoin and wider blockchain community, Claasen is a venture capitalist from Cape Town, South Africa and the managing partner of Newtown Partners, who primarily has a background in online and mobile infrastructure. Fenton will remain a board member of the Bitcoin Foundation.

The vote reportedly took place on 14th June. Notably, board member and Civic CEO Vinny Lingham did not vote due to a "long business relationship" with Claasen.

The appointment follows news the Bitcoin Foundation had received new funding, months after continuing to operate with close to no reserves.

Though it once boasted a nearly 10-person full-time staff, the Bitcoin Foundation shed all of its paid employees over the course of 2014. Entering 2015, the organization reorganized as a primarily volunteer organization focused more on software development, thought its relevancy in this space has recently been challenged.

For more on the Bitcoin Foundation and its path forward, read our most recent feature.

Image courtesy of the Bitcoin Foundation

Disclosure

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 Block.one; 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.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about