Share this article
Polygon Co-Founder Mihailo Bjelic Exits Layer 2
Polygon, initially known as Matic, was founded by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic, and Anurag Arjun.
May 24, 2025, 7:07 a.m.
What to know:
- Mihailo Bjelic, a co-founder of Polygon, announced his departure from the network.
- With Bjelic's exit, Sandeep Nailwal remains the sole original founding member.
- Polygon, initially known as Matic, was founded by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic, and Anurag Arjun.
Mihailo Bjelic, one of the four co-founders of Polygon, is exiting the network.
Bjelic made the announcement on X, "After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation, and wind down my day-to-day involvement with Polygon Labs," he said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
With Bjelic's exit, co-founder Sandeep Nailwal becomes the last remaining member of the original founding team.
Nailwal acknowledged Bjelic's contributions to the network and wished him luck for the future.
The layer 2 network, which was original known as Matic, was formed by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic and Anurag Arjun.
As of writing, Polygon's POL is down 5% in the last 24 hours, trading over 23 cents.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
