View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 16, 2014

Members leave Bitcoin Foundation over new director Brock Pierce

The ex-Disney star’s appointment has rocked the cryptocurrency group.

By Joe Curtis

At least 10 members of a major Bitcoin trade group have walked out after the appointment of former Disney star Brock Pierce as the body’s new director.

The cryptocurrency entrepreneur’s election to the top of Bitcoin Foundation has sparked controversy ahead of the organisation’s annual conference, which begins today.

Members took to the Foundation’s forum to protest against Pierce’s selection, following his chequered past including lawsuits from previous employees in his first company that he pressured them for sex while they were underage.

Pierce, who starred in the Disney film ‘First Kid’, denies the allegations, which date back to 2000.

Reuters quoted an email response from him saying: The allegations against me are not true, and I have never had intimate or sexual contact with any of the people who made those allegations."

Reuters added that one claim was settled out of court, while Pierce told the news wire that the two others dropped their claims without receiving any money.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

However, Foundation member Patrick Alexander wrote on the group website: "This is not the direction this foundation needs to take," referring to Pierce, as well as former board member Mark Karpeles, whose now-bankrupt exchange, Mt. Gox, lost 650,000 bitcoins in February.

Alexander added: "So far, the track record of prominent Bitcoin Foundation members has been abysmal. I no longer want to be associated with these people."

Foundation admin Brad Wheeler defended the group, calling it "a young organization in a young field", but others called the latest development "too much" and announced their resignations.

The Foundation is set to move its headquarters from the US to the UK, likely London, this year.

CBR has approached the group for comment.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.